From an article in the California Associaton of Realtors News Letter:

“A Zillow Mortgage Marketplace survey found that borrowers who obtained a home loan in the past five years typically spent five hours researching their options, unchanged from March 2008. Nearly one-third (31 percent) spent two hours or less. This is on par with the typical time spent researching a vacation or computer purchase, and half the time consumers typically allocate to research a car purchase. ”

This is an unbelievable stat to me, but I am sure it’s true. Your home loan is the most money you will most likely ever borrow. Your mortgage professional should show you at least 3 options (assuming you qualify for more than one option) and then review each with you. He/She should discuss the plus and minus of each option. If you are staying in the home for 3-5 years then a 30 year loan may not make sense. Points and fees are the most confusing for home borrowers. Take your time, put a battery in your calculator and don’t just say ok, ok, ok, I got it. Ask questions even better ASK THE TOUGH QUESTIONS. make them earn their commission.

Before you drive off with that mortgage you know nothing about, take your time to shop around for the not only the best interest rate, but the best professional who will take their time to make sure you are going to have a lemon.