Ask lenders to quote the same purchase price, down payment, loan type, term, and assumptions so the comparisons are meaningful.
Compare the rate, annual percentage rate when useful, points, lender fees, credits, estimated closing costs, and other terms. A lower rate can involve higher upfront costs.
Once you have a Loan Estimate, use it to compare offers consistently. Ask the lender about fees you do not understand and which costs are expected to change.
A mortgage must close on time. Consider responsiveness, communication, underwriting expectations, and the lender's ability to meet your transaction deadlines alongside price.
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