Once you have selected the best mortgage deal for you, the next step is to get everything in writing.  A written mortgage lock-in form from a mortgage lender or broker guarantees your interest rate.  A typical mortgage lock-in form includes: the rate you have agreed upon, the time period of the lock-in, the number of points to be paid, and any other fees.  This basically protects you in case mortgage interest rates go up while your mortgage loan is being processed.  If mortgage interest rates fall, however, during the lock-in period, ask for the lower rate (duh!).

In addition to the mortgage lock-in document, Mr. Thrifty also recommends that you ask your mortgage broker or lender to document all fees associated with the mortgage loan.  Having stuff is writing can give you ammo should there be any “surprises” when you actually close on your house.

You are done!  You have found your best deal on a mortgage!  Now it is onto figuring out what to do with the shag carpeting in your new house and where you are going to fit your neon beer sign collection.  Decorate away…