Do Bad Credit And Credit Scores Have An Impact On Mortgage Rates? Prior bad credit has no bearing on mortgage rates. There are no loan level pricing adjustments on mortgage rates. Credit scores do have an impact on mortgage rates. The higher the credit scores, the lower the mortgage rates on home loans.
In this article, we will discuss and cover the rising mortgage rates in hot housing market for homebuyers with skyrocketing home prices. Since Joe Biden took office, inflation has gone through the roof. Home prices are out of control. The ten-year treasuries are nearing 3.00% which is unheard of. The Dow Jones Industrial Average is […]
In this blog, we will cover and discuss buying down interest rates with discount points on mortgage loans. Lenders will charge higher mortgage rates to those seeking a home loan with bad credit, especially for conventional mortgage programs. Conventional mortgage programs are extremely credit-sensitive. Credit Scores Versus Pricing on Mortgage Rates The minimum credit score […]
In this article, we will discuss and cover things that determine mortgages rates. Not every borrower gets the same pricing on mortgage rates. There are pricing adjustments that affect rates. Loan Level Pricing Adjustments on Mortgage Rates Main two things that determine mortgage rates are credit scores and property types. There are other things that […]
In this blog, we will discuss and cover comparing FHA versus conventional rates on home purchase and refinance transactions. Are FHA Versus Conventional Rates On Purchases And Refinance lower? This is one of the most frequently asked questions at Gustan Cho Associates. Getting the best mortgage rates is important. Lower rates mean tens of thousands […]
In this blog, we will discuss and cover understanding discount points and how discount points are used during the mortgage process to buy down mortgage rates. Understanding Discount Points in today’s mortgage market. Many of our readers are not aware of discount points and how they are used in today’s ever-changing mortgage climate. Discount points […]
Many homebuyers and homeowners are asking for the mortgage rate prediction for 2022. As we are now a few weeks into the new year, 2022 shows early signs of turmoil in the mortgage industry. Gustan Cho Associates are experts in mortgage lending without lender overlays to get in the way. In this blog, we will […]
In this blog, we will discuss and cover How The Federal Reserve Affects Mortgage Rates. If you pay attention to the news, you have heard quite a bit about the Federal Reserve over the past few years. You have probably heard terms such as transitory or permanent. The Fed Chair Jerome Powell is on record […]
Homebuyers and homeowners can get lower rates by buying down mortgage interest rates with discount points. Discount points are origination fees charged by lenders in lieu of getting lower mortgage rates. However, borrowers should buy discount points to buy down rates if they intend on not refinancing their home loan for at least five or […]
This Article Is About Florida Mortgage Rates On Conventional Loans Versus FHA Loans Florida mortgage rates on Conventional Loans in comparison to FHA Loans are higher. Current Florida Mortgage Rates On Conventional Loans on average is 0.50% higher than FHA loans for borrowers with credit scores between 620 and 680 FICO. Florida Mortgage Rates On […]
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