Buying and financing a new home can be a confusing, stressful experience. Simply procuring a loan is tricky enough, but when you add in the complication of getting a fair, competitive interest rate for that mortgage, things get even more complex. As a prospective home buyer, you always need to keep in mind that banks and lenders should be competing for your business.As such, you should be shopping around and investigating as many different Brisbane mortgage brokers, Brisbane home loans and other options as much as possible. By getting out there and being willing to take your time in your endeavour, you are far likelier to get the best interest rate possible for your new mortgage.Don't Fall Prey To Common Pitfalls -Many Australians sign up for mortgages that sound like pretty good deals at first. For instance, be weary of offers with low introductory rates where you may get hit with excessive fixed charges down the track. When that happens, the good deal and affordable monthly payment you were enjoying suddenly turn into an unmanageable mess. Many people currently losing their homes to repossession fell for these kinds of deals, and are now paying the price dearly. Work with Brisbane financial services companies that highlight steady, fixed rate mortgages to avoid this problem.Consider Many Different Options -Think again if you believe that the only option of finding a mortgage with a low interest rate is at local back. Today, there is a great deal of competition out there eager to bid for your business. From mortgage brokers to financial services companies, these professionals tend to work with a lot of different lenders and can steer you toward the most competitive interest rate possible. Walking into a bank and accepting whatever they tell you is foolhardy at best - and downright wasteful at worst. There are many other options out there, and when you expand your horizons to include places other than banks, you'll find that getting a great mortgage interest rate is much easier.Save Thousands By Being A Savvy Mortgage Shopper -Most importantly, educate yourself about current interest rates and find out what people in your area are paying. If you know friends or family members who have recently purchased a home, candidly ask them what kind of deal they got. Knowing what a fair interest rate is - and what one isn't - can save you thousands of dollars down the road. Even if you are quoted a rate that sounds pretty good, it's always possible that others out there are getting way better deals. Knowledge is power, especially when it's time to shop for a mortgage; arm yourself with as much information as possible.