I recommend working with a mortgage broker, as opposed to a bank or other lending service, Good Brokers not only know policies and histories of local lending agencies, but they know individuals within the different institution, and their knowledge and connections they will be able to get you the best deal possible. Find one whose commission is paid by the bank, it's one bill you should not have to foot.

Best Regards,
Alessandra Marx
alessandra@elikaassociates.com
http://www.elikaassociates.com

Halley, After reading your responsed I believe Jose gave you some excellent advice. As a Mortgage Broker myself I see all to often people just look at the bottom line and assume they are the cheapest that is the best way. In the State of Florida a Good Faith Estimate (GFE) Can be off as much as 1% and still be legal. Home prices being what they are this equal's a lot of money that they can be off and still just tell you "oops after all it was just an estimate" This does include banks as well. I would ask the following questions from your Mortgage Person
Are they Licensed?
How Long have the been doing Home Mortgages?
If a Bank. Do they have the ability to broker your file? (incase they cannot approve you at their bank)
Google them.. This is an amazing tool on the internet. See what others have to say about them.
As I stated from the begining I agree with Jose go with your gut.

To find the best deal on a mortgage I suggest you start by doing your homework. First you need to get your credit report so that you know where you stand. Make sure the information is accurate and complete. The higher your credit score the better chances you have of getting a great deal. Next, use the internet to read up on current interest rates and on different mortgage products. Once you've gathered some knowledge on what is out there I would suggest you go to your local bank, then interview a few mortgage brokers. Ask for a "good faith estimate" so you can compare their rates and associated costs related to the mortgage.

Lastly, once you've compared their rates and costs I would suggest that you go with your gut instinct and choose the one you feel most comfortable with.

It's a great time to be a buyer... with interest rates still at historical lows and a large amount of inventory of homes. Good luck!

A good Rule of Thumb is if you have great credit and good relationship with your bank, they are probably going to be able to give you the best deal. Banks are going to be a little stricter and there is more red tape in order to qualify. A Broker will have a wider vareity of loan products. Interview at least 2-3 Mortgage Lenders and make sure to compare apples to apples. If you can get references from past clients, by all means call them and check on the service. Remember that a mortgage is not just about the payment and the interest rate. Primarily, focus on the best loan that fits your financial needs/ goals, not only for today, always keep the future in mind.

Good Luck
Ken Herrera
Century 21 Infinity

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage--whether it's a home purchase, a refinancing, or a home equity loan - is a product, just like a car, so the price and terms may be negotiable. You'll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.