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How to know which mortgage companies offer the lowest rates?

Looking into purchasing a home, how long is the process for pre-qualification as well as pre-approve for mortgage loan?  
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April 02 2013 - San Jose
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We can issue pre-approvals in around 20min. as long as everything looks good.  Rates you will find will be similar with just about every bank and lender out there due to all of the new laws.  You will find some variations but nothing to major.  A plus about us is we don't charge any points or lender fees.  You can contact me or get to our website through my profile.  Again I can issue pre-approvals in about 20min.  Let me know if I can help.
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March 13
Rate shopping is a tricky business. Rates for all lenders change daily, and sometimes more frequently. So getting a rate from one lender one day and someone else the next -- is not an apples to apples comparison. In addition, a lender at times may have higher rates than average, or may for a time period have "the best" rate for your situation. A mortgage broker can preapprove approve your loan with one bank, and shop your loan across lenders when the time to close/lock your loan arrives.

Pre qual is generally talking with a lender.  Preapproval is submitting all your documentation and having a lender (not the mortgage rep) preapprove you for a loan as long as the home also meets your requirements.
that can be quick or a few days depending.
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March 13
Pre-qualification process is what you would do with a loan officer over the phone or a face to face contact on that initial consultation.  Once you have determined that you are pre-qualified the next step is to sign the loan packet and provide supporting documentation such as W2's, paystubs, etc . . . thereafter the file gets turned in to an underwriter and usually you should have a response within 24 to 48 hours for a loan commitment or denial.  

Others may have a different system?
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April 02 2013
 
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