In a refinance transaction there are certain areas you must pay attention to when comparing quotes.

Lender Fees: Lenders sometimes display their fees as one bundled fee or break them down so you can see where the money is being allocated. When comparing good faith estimates for the same rate from different companies you should start by focusing on the total lender fees. Points, origination, discount, processing, administration fees, appraisal fees, underwriting all fall into the top section of the estimate.

Title and Escrow Charges: These fees are not charged by your lender but they can be a determining factor to use a specific lender based on the rates they have negotiated for these services on your behalf. Some lenders will tell you that these fees are the same no matter who you choose. That just is not the case.

If you really want to dig and get the best deal sometimes you can capture savings by choosing a lender that works a tiel and escrow company and has bulk rates for all the services including title, escrow, loan signing fee, and the major endorsements.

When the third party fees are all coming from the same company lenders are able to negotiate better deals for their clients. When title, escrow, and notary are all coming from the same place the company is able to get a little more aggressive with each piece.

The total fees on your transaction should be your main concern. A lender that has gone the extra mile to deliver third party fees that are cheaper has you in mind.

Estimate Date: With rates changing so often make sure you are getting estimates from the same day to be able to accurately compare companies. Rates change daily; sometimes multiple times a day.

Trust: A good faith estimate is only as good as the company who sends it to you. Far too often unscrupulous people will be less than honest in order to win business. Make sure you look into the company and learn about how they operate. Do they post their rates for you to see online so you know their rates upfront? Make sure you have at least been able to get some mortgage information on their website so you can feel comfortable working with them.

With the right information and expectation getting a mortgage can be a breeze.