Now, if you find that the interest rates of all the mortgages are similar, do you need to look for anything else while shopping for a mortgage? The answer to this question is affirmative as you should bear in mind that all mortgages are not created equivalent. In fact, the mortgage packages differ depending on the lender. And then carefully shop for the characteristics that comprise a perfect mortgage package. In simple words, if you want to play a game, it is necessary that you know the rules well.