How to shop for a mortgage

Shopping for a mortgage starts with deciding on your loan scenario: loan amount, term (e.g. 15 or 30 years), and loan type (e.g. Conventional fixed). Then request quotes from several lenders for that same scenario so you can compare fairly.

A lender directory can help you find and track lenders—banks, credit unions, and mortgage companies—in your area. Contact them for Loan Estimates or quote details. Keep your scenario consistent so the numbers are comparable.

Once you have multiple quotes, compare them side by side. Look at interest rate, APR, monthly payment, closing costs, lender credits, and cash to close. Small differences can add up over the life of the loan.

Using a comparison tool lets you enter each lender’s numbers and view them in columns. That way you can organize your search and see at a glance how each offer stacks up.