How To Find The Lowest Rate Possible

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How To Find The Lowest Rate Possible

By: Tom Levine

The quest is on! You're in the market for a new home loan, a refinance, or a consolidation and you absolutely insist on finding the lowest rate possible! So what better place to do your research, then here on the internet, late at night, with your coffee in hand, and your family fast to sleep!

We'd like to help you on your quest, so here are 3 free tips that we think will speed up your journey, and move you to success:

    1.) Benchmarks

    2.) Comparisons

    3.) Apples and Oranges

1.) Benchmarks:

You have to start somewhere. Define "low"? Let's not lick our index fingers, and poke them in the wind to see what direction the storm is heading. If you want the lowest rate possible, you need to know what the market is doing right now, where it's been historically, and what it might be doing over the short term long-haul (say over the next 3 to 6 months.)

  1. Fortunately for you, there are TONS of resources available on the internet to do easy market research. Our website provides a Rate-Watch, for example, updated throughout the day, complete with graphs, charts, and specs on fixed rates, ARMS, Jumbo's, and everything in between. But we aren't the only site out there that provides free resources. Just go to your favorite search engine, and you'll find a gazillion sites that would love to give you free market information.
  2. What I suggest you do is primarily focus on the 30 year fixed rate, and find a graph demonstrating the TREND over the last 6 to 12 months. A picture is worth a thousand words. Also, check out the current fixed rate, and maybe even poke your eye at the APR for an adjustable rate mortgage, and perhaps check out two or three different resources online. Most of them should be extremely similar. This will encourage your confidence in your own growing knowledge about what's going on out there.
  3. What's the news got to say about it? Our site provides a free Financial News watch for mortgages, auto loans, and breaking business stories, updated throughout the day. It's no secret, of course, that news is abundant on the internet, and we aren't the only free resource to provide this information. Go wherever you desire, but read an article or two, even if it's just the first few paragraphs. What's going on with the rates? What are the Feds doing? Any pundits out there talking about how things look, and what may be happening with interest rates? I swear, if you spend 5 minutes doing this, you'll be as informed as the best of them, in terms of having a gestalt view on rates. You will know, with a high level of certainty, what "low" means, in the current world of mortgages and loans.

So take 20 minutes, and derive some benchmarks for yourself. Then, and only then, will you be in a position to gauge what the lowest possible rate truly is, and fully prepared to move forward with your important shopping trip.

2.) Comparisons:

Every loan is different. Every lender is unique. Every borrower has his/her own, special, unique set of circumstances. In addition, there are thousands and thousands and thousands of lenders. The information is out there, but what you need is to focus on efficiency.

  1. So the best way to sift through the deluge of thousands of lenders, with rates changing daily, and terms that may or may not be posted for all to see, is to use one of the many online services that provide this technology to you (for free.)
  2. I won't go into naming my favorites, or listing recommendations, or pointing out the ones that are the oldest, or the newest, or the fastest. That's not the point of this article, and I believe in your ability to make good choices. What I will say, is that I believe in these services.
  3. By providing very simple, brief, and concise information on a short form application, you will almost instantly be provided with 3 to 4 loan offers that match your needs and circumstances, from the thousands of lenders, rates, and offers that are collated and organized in the databases of these various loan search providers. I give that an A for efficiency, allowing you to spend your hard-earned time and resources on other more productive things.
  4. Once provided with these loan offers, the process naturally, is to compare them. Compare them to the market. Compare them to each other. Compare them to different kinds of lending institutions. Compare their terms. Compare their locations. Compare their histories. And of course, compare their rates, and points, and Origination Fees, and everything else in between. Compare, Compare, Compare.

3.) Apples and Oranges:

This may be a counterproductive question, given the nature of this article, but are you absolutely sure that RATE is all you're concerned about? Is getting the LOWEST rate, truly the most important thing to consider, when diving into something as important, as a new mortgage?

  1. Sometimes, it's nice to do business with your local bank. They're right around the corner, they know you by name, and maybe you even get a Christmas card and sometimes, even a box of chocolate. They may charge a little more in rate, or their terms might be slightly less competitive, but usually, they'll be up front about that, and what they're selling isn't the bottom-line so much, as the security of knowing who they are, and what kind of personable relationship you can count on over the next 30 years.
  2. Sometimes, it's nice to take advantage of your local credit union. Maybe you are a government employee, or you work for the electric company, or your business participates in a local, non-profit credit union. Credit Union customers tend to be loyal, and almost religiously in favor of going the route of the credit union for all financial needs. It's a nice idea, that you own a part of the bank, and that you are borrowing from yourself, in a matter of speaking. So, perhaps the credit union can offer you competitive rates, but more importantly, this is always a good way to go if you're seeking an alternative beyond private lending institutions.
  3. Sometimes, it's nice to borrow from the Big Mammas out there. There's nothing like convenience. And if you're into doing everything right out of your neighborhood grocery-store, then you should look into this as well. Rate isn't everything. Convenience matters. Look, if you live a busy California lifestyle, then perhaps it's more important to incorporate ease of doing business into your decision making process.

The point I'm trying to make, is that rate really isn't everything, but it most certainly matters. So, I'm not persuading you against getting the lowest possible rate available, but I am encouraging you to do your homework, and check out all options before making a final decision.

We've enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.

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Disclaimer: Statements and opinions expressed in the articles, reviews and other materials herein are those of the authors. While every care has been taken in the compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. The author will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

About The Author

Tom Levine

Copyright 2005, by, This article is available in full format at:, Tom Levine provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products. His website seeks to provide free online resources for the consumer, including rate-watch, tips and articles, financial communication, news, and links to products and services. You can check out Tom's website here:


LostTeen 31.01.2011. 22:10

How can i transfer money from Russia to America with the lowest rates possible? I am transferring over $100,000, I was woundering if anyone knew a place with the lowest rates possible. Or any other methods?


Admin 31.01.2011. 22:10

Open an account in Russia with an international bank, like Citibank. Then you can make a withdrawal at any of its branches in the world or ATM's. It's free. The bank may even pay you a little interest on the balance.


Mama C 22.05.2006. 18:23

What is the best way to go about finding the safest and best rates to consolidate my student loans? I want to consolidate my student loans to the lowest rate possible before the July 1 deadline for rate increases on student loans. Where do I start in order to get the best information to help me make a safe decision?

Mama C

Admin 22.05.2006. 18:23


Act now. Contact your lender and provide details of each student loan you want to consolidate. The terms you get are based on when you apply for a consolidation loan, not the date it?s granted. A new consolidation loan will be opened in your name for the exact amount you owe. The new loan's proceeds are then used to pay off each of your existing loans.

The new consolidated loan features a fixed interest rate calculated as the weighted average of the rates of the loans consolidated, adjusted up to the nearest 1/8 percent and not to exceed 8.25 percent.

You'll start repaying on a consolidation loan within 60 days, unless you qualify to postpone repaying the loan. Most federal loan programs allow students to defer their loans while they're in school at least half time.

A student is eligible for a lower in-school rate while in college or within a six-month window after graduation. Thanks to the Deficit Reduction Act, after June 30th all in-school consolidations are eliminated. The only time you?ll be able to consolidate your college loans will be after you graduate.

See the related web sites below for additional info.

Good luck!


glamboy2000 28.03.2008. 19:39

I'm in Florida and just got a DUI last November. What are some reasonable agencies with low rates? I'd like to know of any agencies that anyone may have dealt with, that have the lowest rates possible with an FR-44 (Florida's new version of an SR-22). It is my first offense, and I've had a few tickets within the past 4 years. This whole situation is so stressful, and is causing more of a pain in my pocket than anything else. Any suggestions?


Admin 28.03.2008. 19:39

I found that Progressive has very resonable rates. My husband had a felony DUI and most of the major companies would not even offer us coverage. Progressive not only could cover us, but it turned out that we paid less with them with the DUI then we were paying at State Farm with perfect records.


Pam C 11.05.2008. 14:00

How do I go about finding a company to refinance my home mortgage with? Lowest rate possible
repubital company

Pam C

Admin 11.05.2008. 14:00

Ask your family. Yellow pages. Internet. Yahoo Answers. Your aunt Thelma. etc. (U must trust the person or media). Do not, by any means, do not eat with your fingers!


Sue I 29.06.2009. 17:25

I have approx 65 000 left on my mortgage. I want to pay it off in a year. What is the best mortage for me.? Jobs are secure and I want the lowest rate possible in this economy.

Sue I

Admin 29.06.2009. 17:25

Continue with your current mortgage and make extra principle payments... or if you can earn a higher interest rate than your mortgage charges, keep the extra payments and make a lump sum payment at the end of the year.


haggerpotter 08.09.2008. 18:15

What is the best way to transfer money from a US account into an international account? What is the best way to transfer money from a US account (USD) into an international account with the lowest percentage rate possible? I am moving overseas so I would like to be able to exchange a nice chunk of money and losing as little as possible in the exchange.



Admin 08.09.2008. 18:15

Hagger, transfering money is no big deal, you open an acct in Artsenu and then transfer money from your acct in A"rhab into that acct, transfer just as much as you need, the value of the A"rhab money changes on a daily base, you are charged in Artsenu every time you exchange money, if you rent you can write a check in A"rhab money and the landlord can deposit it into his acct, and you can draw pocket money at any ATM.
I've been doing it for years.
Intrest rate in Artsenu is less than 3%
Have questions tell me on our site.


Kind1 15.07.2011. 19:48

Hi there. Can anyone notify me of the banks offering the best finance rates in phx, AZ? I am fairly new to the "home-ownership-process" and I am wanting to find out of the best bank institutions that are currently offering the lowest rates possible. If anyone could offer some of their experiences with their current mortgage loaners, whether good or bad, I would greatly appreciate it. I do have a good credit score and am willing to learn as much as I can about this process. Thank you!


Sarahh 21.07.2012. 08:26

Can the bbm work with only the internet plan without the data plan? I have unlimited internet and texting with my phone plan, would the bbm work with the internet or do i need the data plan?
If yes then which company would you suggest i am looking for the lowest rates possible i live in NY btw.

Thankyou :)


Admin 21.07.2012. 08:26

I have a blackberry and i have an included deal of bbm seperate from my plan for free, many companys will do this. I am on virgin so you could try them. However my freind just has the package deal and it didnt mention unlimited bbm, she presumed that as the internet was included she would be able to use the bbm as part of that but instead she has to pay and extra 5$ a month for it. Obiviously price plans vary but you can always go into a store and ask if they would do you a deal you would be surprised how willing they will be to negotiate with you. Good luck :)


Madison Lynn 23.05.2011. 17:44

Lowest interest rate and no annual fees? Okay im looking for a credit card that has the lowest interest rate possible and absolutely no annual fees. What credit card company would have that?

Madison Lynn

Admin 23.05.2011. 17:44

Discover. 11.99% APR
No annual fee
You must have excellent credit to get this low APR


Kevin Chisholm 30.07.2006. 20:58

What is the cheapest hotel in Manhattan? I need a hotel room for about 10 days starting Sept. 8th or 9th. The only lthing I require is that the hotel is on the island of Manhattan, below 72nd st, reasonably clean and reasonable safe. Other than that, I'm looking for the lowest rates possible. Any suggestions anyone?

Kevin Chisholm

Admin 30.07.2006. 20:58

I stay at Hotel's only 139.00 per night during week days...on 34th & 8th across from Penn Stattion/ also provide a good landmark in case you get lost too !

book it thru (best price I have seen thus far)


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