Borrowers must get a pre-approval. They must inquire at various lenders to know the programs being offered. This will help them in working on the processes for them to pre-qualify in the programs. Needles to say, acquiring an Alberta mortgage refinance with a low interest rate is so much easier with pre-approval. However, borrowers can also be pre-approved if they apply through the Net. Online pre-approval application also gives borrowers the advantage of not getting a credit pull or credit check since credit pulls decrease the chances of acquiring a low rate.

Prepare all the documents -- if the potential borrowers have already prepared everything that they need when they apply for an Alberta refinance mortgage, their lender can immediately process their application. This can save them time in going to different lenders and waiting for the loan application to be evaluated and processed.

Lock the rate -- to assure that borrowers will get a low interest rate, loan experts recommend that they must learn how to lock their refinance mortgage rates. Borrowers must have an agreement with their lenders so they will honor the locked rate.

The closing costs and interest rate that the borrowers get from their lender must all be put into writing. This can guarantee that the lender will stick to the figures that it talked about. It would also help if borrowers ask the lender if the Alberta refinance mortgage has a pre-payment requirement as this will give the borrowers an idea if they have to pay a penalty when they pay off the loan after the due date thereof.