Before you decide to make that big decision to refinance your home or purchase a new one with a good mortgage deal, you should always do your best to investigate and compare mortgage lenders. Make it a point to examine their track record and current financial status.

In these economically uncertain times, you need to work with mortgage lenders and financial institutions that you can trust and that have a sound financial structure. The integrity of the financial institution is just as important as the interest rates and payment terms that are being offered.

You should compare mortgage lenders on the basis of the length of time that they have been in the lending business in addition to the number of clients they currently serve. Look at their track record and inquire as to their financial soundness. Learn about the banks that they do business with to assure yourself that they are stable lenders with equally stable banks backing them up.

Of course most people choose their lending companies simply based on the deals they offer. However today it is not prudent enough to just compare mortgage lenders based on which rates are more competitive. You must be confident in the stability of the lending institution as a measure of whether or not you will do business with them. Ask for recommendations and testimonials from the institution.

Remember the old axiom that if a deal seems too good to be true it probably will turn out to be a nightmare in the end. There are very good online resources and all types of mortgage calculator that will allow you to compare mortgage deals effectively.

It is important that the mortgage deals that are presented to you are not only reasonable but are well within your financial capability to pay, once you have taken into consideration your regular monthly expenses.

Avidly look around for feedback, both positive and negative, on the mortgage companies that you are considering lending from before closing a deal. The better informed you are the happier you will be in the end.