Editor’s note: This is a transcript of the audio file.

Selecting a mortgage lender should be based on more than just the lowest rate. I’m Clark Palmer with your Bankrate.com Personal Finance Minute.

Get a few rate quotes and follow up with research and interviews before you choose the lender that’s right for you.

A good lender can qualify you for a loan and offer advice on how to improve your credit and should talk to you about mortgage payments in context with the rest of your financial plan.

If you are happy with your bank or credit union, you can research their mortgage loan programs. But don’t expect a lower rate or discounts on fees. Some banks have incentives for their customers, others don’t.

You want to know who will service your loan. Because if it gets sold, it might be more difficult to track someone down later who can help you with any issues.

If you want to simplify loan comparisons, ask only about the interest rate and points on the loan and the lender fees.

For more tips on shopping for a mortgage, visit Bankrate.com. I’m Clark Palmer.