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For the past three full months, the final contestants in the national song contest have been performing songs from different genres each week. They have crooned sad, sentimental country tunes. They have belted out lively rhythm and blues classics. And they have motivated everyone in the huge theater and across the world to hum along with their interpretation of a recent #1 hit. Tonight, you are one of two surviving contestants. Standing on stage, you wait in anticipation as the nationwide voting results are about to be revealed. As the host lifts the envelope's flap, you can almost hear your heart's thump thump. He slides the card out of the holder and you feel your entire body tense up as if enveloped in a Scuba suit. With millions of eyes on him, the host announces, "And the winner is...."

Our fascination with contests, real or imagined, show just how obsessed we are with being first or best. Consequently, in a society where being the best is the ultimate goal, it makes sense to search for the best mortgage lender.

Second Best Is Not Best
Being second best never cuts the mustard in modern times. Professional athletes never seem to achieve true greatness without winning a championship ring. Moreover, though receiving an "honorable mention" ribbon at the country fair's watermelon-growing contest is a kind gesture, it somehow never provides the same satisfaction as being handed that sparkling, larger-than-life, first-place trophy. Similarly, why settle for second best when you can find the best mortgage lender?

It's Hard Work Being Number One
As Wesley Snipes explained in one of his films, "It's hard work being this good!" By and large, success has two ingredients: hard work and sacrifice. Though he had the natural talent to fly, Michael Jordan became the best by perfecting every aspect of his game. Then, there's Bill Gates whose net worth equals over $50 billion! Though he never graduated from college, the face of Microsoft spent years computing his vision for PCs worldwide. It's not easy being number one. So, when you're looking for a house to invest in, go for the best mortgage lender. With a best mortgage lender looking out for your interest, you can be sure to get a good deal.

The Leading Lender
What steps should you take to find the best mortgage lender?

* Collect information from different lenders to find the best price. The best mortgage lender knows that even if you shop around, you will return to them. Brokers can help to find a lender for you, but always ask about how they are compensated for their services. .

* Get all of the vital cost information that you need. Ask about the lowest mortgage interest rate that the lender or broker offers, whether the rate is fixed or adjustable, and the loan's Annual Percentage Rate, or APR. Learn about the current rates and points, and ask that the points be quoted in dollar amounts. Learn what fees are involved in the mortgage, and which services are linked to which fees. Lastly, learn about the requirements for downpayments. If you cannot provide a down payment, you might have to buy private mortgage insurance, or a PMI.

* Lastly, after comparing lenders and brokers, choose the best mortgage lender and then start negotiating. Ask if any of the fees can be lowered or waived. After negotiating, you can request a written "lock-in," which carves what you have agreed on in stone or more technically, on paper. This document should include the rate that you agreed to pay, the duration of the lock-in, and how many points need payment.

Being number one is never easy, so searching for a premium mortgage rate will require some footwork. But if you can find the best mortgage lender, consider the work well worth every painstaking minute and hour.