Shopping Smart

Here's what most first-time buyers don't know: you can (and should) get quotes from at least 3-5 lenders. Rates vary more than you'd expect.

Multiple mortgage inquiries within a 45-day window count as a single hard pull on your credit score. The system is designed for you to shop around — use it.

Also compare the APR, not just the interest rate. APR includes fees and points, giving you the true cost of borrowing. A loan with a lower rate but higher fees can actually cost more than a slightly higher rate with lower fees. And never skip the Loan Estimate document — by law, lenders must provide one within 3 business days of your application.