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where's the best place to get the lowest interest rate if you have great credit?

  • December 17 2008 - Windsor
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Answers (5)

Looking at the lowest rate is not the way to go. It will lead you to compare apples and oranges. Different lenders are charging different fees, you might consider points, maybe have PMI, there are so many factors playing into that.
There is no such thing as a free lunch and if you see somebody offering 1/4 percent less that is not necessarily a great deal.
My father used to say "if you want the last drop from the bottle the lid will it your nose".
Find a local, reputable and respectable lender with in house underwriting, who keeps their loans, and discloses all there is to disclose. Look for stability and health in a bank. Look for a loan officer who knows his stuff. Over the life of the loan those things count to much more than the last drop from the interest rate bottle...
  • October 23 2013
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Profile picture for The Mortgage Mark
Why is this getting brought back up from 5 years ago? 
  • October 23 2013
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I suggest comparing with two different lenders in a day and compare what they offer. rate is not always everything as you want to know your loan willl get done in timely fashion
  • October 23 2013
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I do not agree with the answer given by MN Mortgage Mom.  There is more to a loan then getting the lowest rate. The biggest culprit in rate confusion is comparing different loan programs.  You have to decide, without a doubt, which loan program is right for you.  If the loan officer is doing their job correctly, they should have at least 2 to 3 available loan options available to show you so you can make a educated decision as to which loan program fits your financial needs that will work well with your budget and your goals.  If would like more specific information please let me know or you can click on my profile.
  • October 22 2013
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Work with a broker!  They can shop rates for you.
  • December 18 2008
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