Rate Shopping Done Right: A First-Time Home Buyer's Guide to Comparing Mortgage Lenders, the Loan Estimate, APR, Points & Closing Costs

Two lenders quote you 6.25% and 6.5%. The "higher" one may actually be cheaper. This short book shows you why - and how to tell.Most home buyers ask the wrong question first: "What's today's rate?"But a mortgage quote is never just a rate. It is a package: the interest rate, APR, points, lender fees, lender credits, closing costs, loan type, and timing all work together.Rate Shopping Done Right teaches first-time home buyers how to compare mortgage quotes using the Loan Estimate (LE), the standardized form lenders provide after a formal application. Instead of guessing which lender is cheaper, you will learn where to look, what to ask, and how to spot the difference between a real deal and a sales line.Inside, you'll learn how to: - Compare mortgage quotes on the same basis- Understand the difference between interest rate and APR- Read key sections of the Loan Estimate- Identify discount points and lender credits- Compare purchase loan offers using Sections A and B- Evaluate "0 cost" refinance claims- Ask lenders for clearer, more accurate quotes- Avoid common mistakes before closingIncludes a plain-English glossary, two fill-in comparison worksheets (purchase and refinance), and two anonymized real cases.This practical guide - under 50 pages - is written for buyers who want plain English, not mortgage jargon. You do not need to become a loan expert. You just need to know which numbers matter before you choose a lender.If you are buying your first home, comparing lenders, or trying to understand a Loan Estimate, this book will help you shop with more confidence.Written by Cindy Liu, MBA, an NMLS-licensed Mortgage Loan Originator.