Ok, now it’s time for you to go shopping for mortgages. If you use a mortgage broker, you can skip this step as the broker does this part for you. If you are going at it on your own, then you will have to talk to several lenders individually.
This is a tedious process, but necessary if you want to get the best possible rate for yourself.
Ready For Signing
Once you have found the mortgage that works best for you, the lender will get the paperwork together for you to sign it. READ IT FIRST! There is always fine print, and if you gloss over something, you could be in serious trouble later on.
Ensure you understand everything before you sign your name anywhere on those papers. Reading all the terms of the mortgage protects you from being unpleasantly surprised down the road.