Tips for choosing the mortgage that will best meet your needs

(Quote from Yahoo)

So you’ve requested a mortgage and received three or four home loan offers. Now what? Here are the most important questions to ask each lender.

1. What is the interest rate?

This is the most obvious question. The interest rate is used to calculate your monthly payments, and it will determine how much you’ll pay over the life of the loan. But you’ll need to understand more than simply the quoted rate.