Compare two loan offers side by side and see which one saves you more money.
When comparing loan offers, don't just look at the interest rate. A lower rate with a longer term might cost you more in total interest. Always compare the total cost of the loan (principal + total interest payments). Also consider points, fees, and whether the rate is fixed or adjustable. Even a 0.5% difference in rate on a 30-year $300,000 mortgage can save you over $30,000 in total interest.