The interest rate isn’t always the most important factor in selecting a mortgage. You want to make sure you’re doing business with a reliable, reputable business. A trustworthy lender will be able to provide all of the details of your loan, including pre-approval, in writing. When shopping for a mortgage provider, don’t forget to ask friends and family members for recommendations. Although online reviews are available, they may not be as thorough as hearing feedback from the people you know. It’s also reasonable that if the people closest to you were happy with their experience, you will be, too.

Also, make sure that you understand the full cost of the loan and that you feel comfortable with all of the terms. For instance, pre-payment penalties, a large down payment requirement, or larger monthly payments may cause the loan to be less than ideal — regardless of the interest rate.