Finding the best mortgage rate for your residential housing needs can be a difficult task, especially if you aren't sure what facets of the mortgage loan are important to consider.

The easiest way to find the best mortgage rate is to shop your business around to multiple lenders who are willing to compete for your business.

When you have narrowed your search down to 3-5 viable banks or mortgage lenders, the major facets of the mortgage loan that you should look at include not only the mortgage rate, but also any underlying costs associated with the loan, which together determine the A.P.R. (annual percentage rate).