The Truth About Interest Rates

“Rates are real time; don’t be misled by advertised or posted rates!”

Our goal is to obtain the best interest rate at the lowest cost tailored to your specific mortgage requirements.

The most challenging part of getting a mortgage is often understanding home loan rates and how much the mortgage will cost you. The lowest interest rate is not always the best. When you look at mortgage rates in the newspaper or at a rate posted on a website, the rates shown are for a very specific loan and profile for that specific date, usually a teaser rate. You should never take an advertised mortgage rate quote at face value! Read the fine print “quoted rates are valid as of … and are subject to change without notice” Interest rates change daily and during volatile markets, rates change throughout the day.

Every mortgage is unique and different.  Interest rates vary based on various factors; your credit score, the loan-to-value ratio (LTV), combined loans-to-value ratio (CLTV), the type of property being financed, purchase vs. refinance, cash-out, mortgage terms (30yr, 15yr, ARM, etc.), occupancy type and much more.

Give us a call or complete our Contact Us form and let one of our Mortgage Professionals educate you about interest rates, where they come from, why and how they change, why the lowest rate may not be the best rate.  The information you receive will assist you in making the right decision. We don’t sell interest rates; we sell service, honesty and borrower education.