When to shop for a mortgage

You typically shop for a mortgage when you’re preparing to buy a home or refinance. Getting pre-approved early can clarify your budget and strengthen your offer; you can also get quotes from multiple lenders at that stage to compare.

Rates change with the market, so the “right” time is when you’re ready to act. Shopping multiple lenders in a short window (e.g. within a few weeks) lets you compare offers when rates are similar and avoid re-running your credit unnecessarily.

Once you have several quotes, compare them for the same scenario: same loan amount, term, and loan type. Use a comparison tool to enter each lender’s numbers and view rate, APR, and closing costs side by side.

Organizing your quotes and comparing them in one place helps you decide when to lock and with whom. There’s no single best time—only the time that fits your situation and the offers you’ve gathered.