Is the lowest interest rates always the best for the borrower?  In determining the best mortgage loan value for a borrower, several things must be considered.  The intereste is important, the lower the rate the lower the monthly payment.  It's that simple.  Not quite so simple is what it costs the borrower to get that low rate.  Usually, there are two areas where buyers can spend a lot of money to get a loan.  One area is the loan origination fee, a fee which is usually 1% of the loan amount collected at closing.  The other area is the loan discount point, again usually 1% of the loan amount.  Keep in mind that these fees can be smaller or larger.  I've seen loans with good interest rates quoted at 0/0 meaning zero loan origination and zero loan discount.  Other examples are .75//50 meaning three quarters of a loan origination point and one half discount point; 1/2 meaning 1 point loan origination and 2 points loan discount.  Considering a $100,000 loan amount  with 6% interest rate.  The cost of loan the loan in scenario one is minimal, in scenario two the cost is an additional $1,250, and in scenario three the additional cost is scenario three is $3,000. 

Always request a Good Faith Estimate from the lender showing all the possible costs of a loan before making a decision to accept a loan.    Your Real Estate Professional can help you translate this document.  The lender should explain this document to you as well.  Know what it costs you to get a particular loan.  Don't just focus on the interest rate offered.