Mortgage News

What is your Rate?

By February 13, 2020 No Comments

This is a question I get asked all the time. In fact, it’s the number one question I get asked as a mortgage advisor.

Before I give you my answer let me start by saying this. Loans are like people. People may be a lot alike but no two people are exactly the same. Therefore, no two loans are exactly the same. Loans are actually one of the most customizable transactions you’ll ever make. Each loan is customized to fit each individual and their unique situation.

Well, you still haven’t answered the question. What’s your rate?

Let’s touch on a few determining factors.

  • What loan program are we using?
  • What percentage of the purchase price are you putting down?
  • What loan term are you looking at?
  • What’s your credit score?
  •  Are you a first-time homebuyer?
  •  What’s your debt to income ratio?

These are just a few of the determining factors that go into answering the infamous question, What is your rate?

If you want a real answer. A real quote. You should know that there’s more to it than just spitting out a number like a Bingo machine. Buying a home is a big deal. Your rate is one of the biggest deals in that process. Do you want someone throwing a number out there or someone willing to take the time to provide an accurate number?  Do you want someone to lie and tell you a number before they know all the determining factors?  I don’t want to work with someone who cuts corners or someone who is willing to lie to earn my business.

If you really want to know, “what is my rate”, go to and let’s get started!