Getting a mortgage loan can be a scary thing for some people. It is important as the consumer that you know your rights when getting a mortgage loan.

1) You CAN shop around for a mortgage. Now don't mistake this as me telling you to look into 20 different lenders. That will affect your credit. Look a few lenders and/or banks in your area to see who will offer the best rate, lowest closing costs and (something that many people overlook) great customer service!
2) You have the right to know exactly what fees you will be paying, what the fees are for, and which fees are none refundable. This information will be provided on a Good Faith Estimate.
3) You have the right to know how much the broker is being paid for your loan.
4) If your loan is declined you have the right to know why.
5) You have the right to receive a copy of your appraisal report.

It is important to educate yourself when getting a mortgage loan whether purchase or refinance. This is the biggest financial decision of your life. Ask questions. Get answers. Don't sign ANYTHING until you feel comfortably armed with the knowledge you need to know exactly what you are signing!