Tuesday, January 6, 2009
| OUR
RATES TODAY |
|||
|
Rate |
Points |
APR |
|
| 30 Fixed |
NA
|
0 |
NA
|
| 15 Fixed |
NA
|
0 |
NA
|
| 5/1 ARM |
NA
|
0 |
NA
|
| 1yr ARM |
6.0
|
0 |
6.02
|
| Our
rates are updated every 15 minutes.
Next update in min. |
|||
| More
Rates >> |
|||
| NATIONAL
AVERAGES |
||||
| Rate |
Points |
|||
| 30 Fixed |
6.18
|
0.4
|
||
| 15 Fixed |
5.93
|
0.4
|
||
| 5/1 ARM |
5.98
|
0.5
|
||
| 1yr ARM |
5.47
|
0.6
|
||
| Current national averages
as |
||||
Source:
Freddie
Mac |
||||
- A Mortgage Broker partners with major
lending institutions across the country and originates loans for these
lenders.
- A Mortgage Broker puts all the mortgage
paperwork together and submits a completed loan package to the best
lenders for approval.
- As a Mortgage Broker, we shop for the
best rates from a variety
of sources and offer those rates to our clients.
- Our sources can be large nationwide banks,
Insurance companies, regional lenders, local community banks or any
other reputable institution who is in the business of residential home
finance.
- Our rates are generally lower than if
you were to go to the end lender directly. Why? Because the end
lender has to pay someone for the work of originating the loan, either
their own internal loan department or an outside broker like us.
We save money by doing the job cheaper and more efficiently - and then
pass the savings along to you.
- In general, Mortgage Brokers get paid
by the end lender after the loan is closed, not by you, the customer.
Some brokers do, however, charge excessive fees and points, so
it is important to review costs carefully.
- Like many Mortgage Brokers, we offer
many different kinds of financing, including primary mortgages, home
equity loans, commercial financing, construction loans, loans for investment
properties, multi-unit mortgages, no-cost refinancing loans, damaged
credit loans, etc.
- A Mortgage Brokers' job is to find the
lowest rates, gather all the required mortgage documents, obtain a loan
approval through the desired lender, and help walk the customer through
the closing process.
- Once your loan is closed you deal directly
with the end lender. The Mortgage Brokers does not service your
loan from month to month, they just arrange the initial transaction.
- In most states the vast majority of all
home loans are originated through Mortgage Brokers as opposed to directly
through banks.
- Since we as Mortgage Brokers have so many sources of funds we feel you have a better chance of getting approved more quickly at the best possible rate than if you dealt with each bank separately.
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