I live in Houston and am about to purchase my second house. I know close to nothing about home lending or mortgage rate calculation. My primary concern is not to get swindled into high rate. Any advice on finding the lowest possible?
I found a great rate on www.lendingtree.com a little over a year ago. I would recommend checking it out.
Find out your credit score/rating. If you have good credit you should have no problem getting at or under the average rates that get posted weekly in the paper or online. What's negotiable are their fees for providing this service. Just like anything else, shop around and negotiate. It's a little more complicated than this but get some names of lenders others have dealt with and it should be no big deal.
Thanks for your help. I'll start with the credit reports and then wade through the bs with the brokers.