Well I suppose you can compare mortgage rates, however, comparing loan programs and/or mortgage companies based on an advertised rate is quite near-sighted. One mortgage ad might say “4.5%” and another “4.25%.” But the 4.25% option is not always the better option. One might ask, “are there other fees involved?” “Is this the right mortgage person, or company, for me?” “How reliable is this lender?” Dependability of the loan program and its purpose is also important to consider. Another factor could be the condition of the home. Carrying costs, known as maintenance and utilities, account for the second largest expense in home ownership. A minor difference in rate between loan programs may afford you the ability to involve improvements or repairs within the loan. Doing so limits exposure to long-term consumer costs. And while interest rate is important, it is more important to fully research options versus going off of a single ad. Learn about mortgage money, ask us how.