1. Find the best interest rate possible – Finding the best interest rate possible can either save or cost you a large dollar amount.
2. Find loans with lower fees – Once you have applied for your loan and received the good faith estimate (GFE), don’t be afraid to ask for an explanation of the fees.
3. Lock in the rate period you want – Upon finding the mortgage rate and terms you want, be sure to get a written commitment, also known as a “lock,” to secure those rates and terms.
4. Find a lender that you are comfortable working with – A lender responsive to your questions and who is willing to give written details will aid in avoiding surprises.
5. Avoid a prepayment penalty– Be acquainted with the terms of the loan to know whether there is a penalty for early payoff.
http://www.distinctiveprop.com/files/files/9.20.2010Stats.pdf