All you see today are ads for the lowest mortgage rates around. How can all of them have the greatest rates, you ask.

If you want to avoid being fooled by such come ons, be sure you know your lender well. If you have never heard of a particular broker, get all the details you can about him. You should do this by talking the Better Business Bureau, or your government banking commission.

The next step is to make sure you are working with a lender who has experience in the kind of loan you are interested in. Also, you should make sure the lender has a lot of experience in the field. Working with a reputable, experienced broker is the single most important way to steer clear of headaches at closing.

Do a lot of study. With all of the information available to us today, it can be hard to find the correctnformation. study the different types of home loans available and what what payment terms are offered. In this manner, you can make a list of different loan types with the rates and terms in order to compare.

Another thing to consider is who the rates you are quoted apply to. You may see some realy good rates, but only people with absolutely top notch credit ratings are going to get those rates. So obtain the premiums over the best rate so you can make proper comparisons.