In doing so, you will know what kind of apple you are shopping for. Click on our Loan Programs section to help you determine which loan program will serve you the best. Choose your target interest rate. In formulating your plan for comparing lenders, eliminate as many of the variables in the equation as possible. With a target rate in mind, comparing lenders becomes easier because you have defined and leveled the playing field on which your lenders will compete.
Lenders have many different ways of disclosing the true cost of a loan.
The rate a lender offers is only one part of the equation to finding out the best deal. The confusion that is common to consumers is how to accurately compare costs from different lenders expressed in different ways. Remember, although lenders rates may change every day, the lenders fees do not. Know what the lenders Lock-in Period and Policies are . Many lenders will advertise rates with very short lock-in periods.