How to Compare Mortgage Rates
Shopping for Lenders in Six Steps

You can learn to compare mortgage rates and find the best lenders in six simple steps. I'll also be discussing how to protect your social security number and credit scores while you're shopping online for your mortgage.

Six Simple Steps to Shopping for Mortgage Lenders

  1. Create a Favorites or Bookmarks list dedicated to your search.
  2. Enter a phone number and web address of each lender site as you proceed.
  3. Tab through websites looking for...
  4. Prioritize the best mortgage lenders toward the top of your list.
  5. Narrow your list down to 3 to 5 lenders.
  6. Contact each mortgage company.

You should also go to Nationwide Mortgage Licensing System Consumer Access to review information regarding mortgage companies and loan originators before choosing a lender

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Working with Mortgage Lenders

How to Compare Mortgage Rates Online and Get Home Loan Help

Important! You may be asked for personal information to continue the process. If you feel comfortable with a certain mortgage lender that is okay but a word of caution...

In general most lenders no longer require social security numbers at this stage of the process.

They are merely going to assess your prospects of mortgage loan approval on unverified personal information given by you.

In this initial stage, be wary of providing a social security number because it can be used for a credit search. Multiple credit inquiries have the potential to lower the all-important credit scores, decreasing your ability to get the best home mortgage rates.

This Is Your Home and Your Mortgage

If you are concerned about applying online and want to talk to a real person, most lenders supply a toll free phone number. Call to ask questions or even apply for a mortgage over the phone. Don't be afraid to call.

As you know I have a favorite saying. This is your home and your loan. No one is going to care about it more than you.

Best wishes to all.

Ask Kate About Mortgage Lenders

What would you like to know? How to find a mortgage professional? How to compare interest rates? Ask Kate!

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More help! Look at these questions, comments, and Ask Kate answers.

Enjoy the following Ask Kate questions and answers. Add a comment to the stories or ask your own question.

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HARP 2 Mortgages Owner Occupied 
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HARP 2 Refinance Guidelines 
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Click here to ask Kate about your mortgage.

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