Many people fail to get the best deal when shopping for a mortgage...They fail primarily because they don't know the proper questions to ASK lenders and others they deal with!

We'll provide you the single biggest mistake borrowers make when it comes to shopping for a loan as well as how to avoid falling victim to "predatory lending" practices...

Falling victim to predatory lending practices:

Predatory home mortgage lenders are lenders who actively look for people who may have financial difficulty or who don't know they could get a better loan. In other words, they look for people they can takeadvantage of because of bad financial situations or just plain ignorance.

Predatory lenders are on the lookout for borrowers who are behind on taxes, need home repairs... even people who are behind on medical bills. Once they find these people in desperate financial straights OR in a state of just plain ignorance, they usefast talk and financial "smoke and mirrors" to get you to sign on the dotted line.

Before you realize it, they've pressured you into an excessively high interest rate, huge up-front fees and repayment terms no average person could afford.

Even if there's nothing wrong with your credit or income, ignorance can cause you to pay much more than is needed. Why pay higher interest rates? Why pay extra fees or closing costs?

Regardless of your credit status, you must learn to shop around in order to get the best possible loan. The first step to becoming a smart borrower is to know your credit rating and credit score!

FACT: In some cases, people with perfect credit get charged higher rates because they simply don't know any better!

Knowing your credit score and having a copy of your credit report up front may well help you negotiate the best loan so you don't pay more than you should.

This also gives you the opportunity to correct any mistakes you find in your credit report before sitting down with lenders.

Predatory lenders use your credit report as justification for charging higher fees. Correcting problems on your credit report first helps you fight back against this practice!

The three major credit reporting agencies are:

Equifax: (800) 685-1111 - equifax.com

Experian: (888) 397-3742 - experian.com

TransUnion: (800) 916-8800 - transunion.com

But perhaps the single biggest mistake people make is simply calling a bunch of lenders and asking what the rate and points are... if you do that you are missing the boat entirely!

You need to learn how to ask the right questions in order to get the best deal, including:

What fees are due at application?

When you turn in your application, you may be required to pay a loan application fee to cover the costs of underwriting the loan. This fee pays for the home appraisal, a copy of your credit report, and any additional charges that may be necessary.

The application fee is generally non-refundable - so you need to make sure you ask the right questions before you start handing over money to a lender and then can't get your money back later if you want to switch to another lender!

The following link shows you where to get a no obligation FREE QUOTE from several lenders, including the country's Largest Mortgage Lenders, who are willing to outbid each other for your refinancing business. You are then in the driver's seat, as you choose the loan with the best rate for you. So to find out the answer to the question what is the best way to go about refinancing a house? simply follow the link I provide for the answer.