When you shop for your mortgage, most people begin the process by shopping from lender to lender asking for the current rates. When you make your decision based solely on price you are doing yourself a great disservice. Most customers don’t know what to ask, so the evaluation comes down to, "What is your rate today"? Not only is this unwise for choosing the right mortgage for your financial plan, but also exposes you to the risk of misquoted- inaccurate interest rate quotes that just "get you in the door". If it sounds too good to be true you may end up with rates that change right before you close when it’s to late to change lenders, and you may end up with hidden fees and charges that can increase the cost of your loan.

Amerihome Mortgage Company offers loan applicants, on most types of loans, the choice of either:

	Locking in the interest rate and discount points for a specific period of time (lock-in), or
	Allowing the interest rate and discount points to be determined during the application processing period (open float).

Applicants who initially choose the "open float" option can later lock the interest rate and discount points, subject to availability of the desired type of loan. It is up to you to decide whether or not to lock in and when to do so.

Here are some additional items to consider when selecting the right mortgage:

	Price is important, but should not be the sole basis of your decision. Look for a lender that offers you a competitive rate, but can answer all your questions and will work with you to deliver valuable and accurate service. If you are concerned with locking in your loan at time of application, make sure the rate and points are locked in writing with the time frame outlined that they are good for, i.e. 15-30-45 days are the most common.
	Obtain a "good faith estimate" of closing costs. A lender should be willing to provide you with this full disclosure of fee's and charges prior to your loan application. Make sure this represents ALL of the costs associated with closing your loan, not JUST the fees to the lender. Lenders are required by law to provide this document to you within three days of your application, but by then you could have wasted valuable time and get a surprise. Find out all of the fees and charges up front. Which program you choose needs to be evaluated to see if it's fit for you. If your lender can'’t show you the pros and cons of different loan programs for your personal financial situation, they may be quoting "one size fits all" and probably do not have the expertise to act as your personal mortgage advisor.
	Look for experience – the mortgage business has attracted many new people. Work with someone who has some years of experience to make sure the job is done right. Additionally, someone with more experience will have more programs and options to choose from.
	Look for an investment in technology. Lenders that have been investing in a web site and automation are investing in ways of streamlining the process, making obtaining your mortgage approval faster and easier. Amerihome Mortgage offers technology that will now allow your loan to be underwritten and approved immediately.
	Ask about loan processing support. Who will process your loan, their experience, and how many files they are working on can be a determining factor of the quality of service you receive. If a processor has less experience or a large number of loans they are working on, you may be in for last minute surprises. If you go with a loan Officer that "processes their own files" you may get a price advantage, but you may not get the attention you deserve since they could be spreading themselves too thin trying to wear too many hats. Proper support and operations structure makes a world of difference in doing the job right.
	If your loan officer is recommending a specific mortgage without asking questions about your personal financial situation – beware. Just as you would not feel comfortable with a doctor prescribing medication until he or she examined you, you need to have a "diagnosis" of your personal situation before any program is prescribed.

Your mortgage is one of the largest financial transactions you will ever make. Making the right decision and integrating your home-financing strategy into your financial plan can help turn your mortgage in to a "managed credit" portion of your long-term goals. Many financial planners will tell you that managing your credit is as important as managing your assets. At Amerihome our approach is to be your personal professional consultant in selecting, recommending and managing your mortgage for life.

	We have your financial interests as our priority.
	We help make the process simple.
	We shop over 60 investors mortgage programs for you.
	We explain everything to you - plain and simple.
	Contact Amerihome to schedule a no pressure mortgage evaluation today.