 TITLE: 6 Steps to Refinancing Your Home Mortgage CONTENT: 3\\. Shop Around and Choose a Qualified Lender\n---------------------------------------------\nShopping around is one of the best ways to score a lower interest rate on your new mortgage loan. Each lender has its own set of criteria for determining interest rates, and you may be able to qualify for a lower rate with one than with another.\nAlso, closing costs and fees can vary from lender to lender, so comparing multiple options can help you maximize your savings. Plan to get at least three or four quotes from mortgage lenders to give you a good idea of what you can qualify for. This process may also help you gain some power in negotiations as you seek to reduce your costs from interest and fees.\nAlso, fortunately, submitting applications with multiple lenders won't have a significant negative impact on your credit score. That's because credit scoring models typically combine multiple inquiries from mortgage, auto and student loan applications, as long as you submit all of your applications within a short period—typically between 14 and 45 days depending on the model. END