re: Interest Rate on Home Loan

Shop around, take a couple hours. Make sure and talk to some local banks and credit unions, bigger banks, etc. Just tell them you are shopping around, my credit score is xxx, what is your 15 and 30 year rates with no points.

If they moan and talk around, tell them thanks but you'll find someone else. There is literally 30 people or more that you can get a mortgage from, and 25 of them are going to sell your mortgage on the market in 60 days. The other 5 in the first year. So who you write your checks to in 3 months after closing is not going to be the same person most likely, so don't feel compelled to go with someone local you like.

The differences can easily be 0.5% or more by shopping around. I made the mistake myself on my first mortgage. The mistake that everyone makes is, rates online are 0.5% lower but I guess I just don't qualify??? No, you just got suckered or were too lazy to call around. Chances are with a couple phone calls you can get a better rate.