Get a good faith estimate for each option. Not getting a written good faith estimate. If the lender won't provide a written good faith estimate before the application, keep shopping. The good faith estimate should include ALL closing costs and escrows associated with your home purchase or refinance. 4.Not knowing the difference between direct lender,a broker, or an aggregator.
Brokers often dangle an attractive rate but are most often more costly.
They often claim no points but charge a broker fee which are really just disguised points. They don't even have lending experience or a license to lend. They take your financial information and put it up for bid. This is dangerous. Not getting your rate lock in writing.