In this article, we will cover and discuss how mortgage lenders determine interest rates. Many home buyers and homeowners often get confused when they shop for rates on how mortgage lenders determine rates. Mortgage borrowers should be aware of the various how mortgage lenders determine rates prior to applying for a mortgage. Not all borrowers […]
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.
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 […]
Many homebuyers are often confused when they are applying for a mortgage about why they are getting two rates, APR versus interest rates, from mortgage lenders. One of the many frequently asked questions at Gustan Cho Associates is why is APR higher than the quoted mortgage interest rate. The APR is always higher than the […]
In this blog, we will discuss and cover Shopping For The Best Mortgage Rates With Bad Credit. Many home buyers with poor credit and low credit scores just feel grateful for being able to get a home purchase mortgage approved. They think they have limited options in shopping for the best mortgage rates with bad […]
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 […]
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