Shop the Professional for better results.

If you call a bank, broker or access the Internet to obtain an interest rate quote and you are not asked a specific set of questions prior to obtaining the rate quote it is probably wrong and it may be the wrong program for you anyway. 

In order to obtain an accurate quote, lenders must know what your credit score is, issues surrounding your credit, down payment if any, full document mortgage vs. stated income, fixed rate vs. adjustable rate, whether you are occupying this home, if it is an investment property, if it is a stick-built home, mobile home, sale price or loan amount.

In adddition to that determine what type of goals you have in the short term and long term. This is an important component as you contemplate options.

Find an experience professional. That should be your focus.  Once the decision has been made regarding the type of mortgage then your trusted professional will shop the price. If you have issues of trust with your professional, then communicate that and move on. Don't waste your time and be courteous and don't waste the time of the professional.

Word of warning: Everyone is an expert. Everyone that has obtained a mortgage becomes an instant "expert". They proceed to tell you how "you should" do it not realizing or understanding that your situation and goals are different. So take in the information from your friendly well intentioned "advisors" then call the real professional and get your questions answered in context to YOUR situation.

Second word of warning: The folks that went into the wild searching for the lowest rate instead of looking for an experience professional to guide them through the process got exactly what they asked for.....THE LOW RATE. Unfortunately, they probably are now one of the forclosure statistics after getting one of those little 1% negative amortizing loans. I have nothing against those loans. They have their place but in most instances people were sold a bill of goods by phone solicitors, mail solicitors, internet and of course Uncle Phil who decided to do mortgages on the side.