When deciding on a mortgage loan for a real estate property purchase you always want to shop around. Visit as many mortgage loan lenders as posible. Remember to do your homework. The best mortgage rate isn't always the most important factor.
You also have to consider points which are aditional charges added to the beginning of the loan which can be paid up front or spread out over the full payback period. There are also closing fees. These usually include include mortgage/title insurance, title searches, filing fees and survey charges. These closing fees vary from lender to lender so be sure to shop and compare.
The biggest factor is the rate at which the credit is offered. Someone with a good credit rating provides a lower risk for the bank and will therefore be offered a lower rate. Some financial entities want more risk so they can charge higher rates and receive bigger returns.
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