When shopping for the "best rates", you'll usually notice that the low rates typically come with some fine print to be read, which should include the minimum loan amount, minimum credit score, maximum loan to value, etc. While some people do qualify for these "teaser rates", the majority will not, so be sure to always do your research and remember, if it sounds to good to be true, it usually is.

Further, taking too much time shopping rates can cost you by not locking in to your rate in a timely manner. It is my opinion to first find a mortgage professional that you want to work with. This individual should be able to offer the loan product and/or program you are looking for, but also share their own opinions and possibly provide other suggestions as well as an alternative to what you are seeking. Having a relationship with a Trusted Mortgage Professional will save you time and money over the years as the information that is shared is worth much more than saving .125% on an interest rate.

There have been numerous occasions where I have had discussions with clients who said they couldn't be approved or that they had their applications in for many weeks and were not hearing from their mortgage professional as to the status of their loan. These are examples of poor communication and poor choices of mortgage professionals to work with. Communication must be at the top of the list on what you look for as we all need someone who knows a bit more than we do, which is why one would end up on a site like Lender 411 in the first place.

Be a smart consumer and trust your instinct as it should guide you down the right path. If you choose, trust first, but verify after. Before you commit to something or someone, do some research independently to see if what you're being told adds up accordingly. Friends, family, co-workers, etc, all may have their own opinions, but unless you are speaking to someone that has your identical situation, their opinions may be off base!

A Trusted Mortgage Professional's goal is to educate their clients and build long term relationships built on trust and knowledge of their business. Find someone who has the qualities that you are looking for and see how they can help you with your financial situation. If they are unable to help you, they should be able to provide you with the necessary information, guidance, and even offer a referral to another professional who may be in a better position to assist you!

Thank you and enjoy the day!