How Do I Find The Lowest Interest Rate?

If that is what is most important to you then you are in trouble.  Rate should be the least of your worries.  You should be concerned with finding a Mortgage Professional.  You want someone who you know you can trust, that they will close your loan, gives your options, explains things to you, etc. 

How do you find this person?  That’s a tough question and one that there is probably no right answer.  Most people find me through a referral from either through a past client, a real estate agent, title company, etc.  That doesn’t always mean they are the best but it’s a place to start. 

You can never be too safe so I would take the name and phone number of that person and Google them to see what I can find out.  If they have a common name I would probably add “mortgages” to it and possibly the city and state. 

After finding information on the Mortgage Professional I would call them and introduce myself saying that I got there name from so and so and wanted to see where their interest rates were.  If all you get is an interest rate quote I would begin to look elsewhere for a loan. 

A loan is much more than just an interest rate.  This is something you are going to be stuck with for many years so you better make sure someone is looking out for your best interests.  I think we have lost sight of the saying “you get what you pay for.”  Do you want the cheapest surgeon or the best surgeon?  I once heard a saying “you shop for shoes, you shop for clothes, but when you shop for mortgages you end up with the biggest liar.”  Anyone can quote you any rate but it’s the rate that you get locked in at that counts.  No matter what you are buying, whether a product or a service, you can always find someone cheaper. 

There are too many things that can cause a deal to not close that you can’t have interest rates being your #1 concern.  You want a competitive rate but you need an expert.