Can I Do Better Than The Rate I Was Quoted?
There's a good chance you can!
5/29/2019 - Immediate Release
Since rates started creeping up following the most recent Presidential election, many mortgage banks have adjusted to the loss in volume and profit by increasing their rates, to compensate.
This trend has done nothing but increase in the most recent fiscal quarter, which might explain why the rate you were quoted seems completely out of line, even as rates overall are falling, hitting 18 month lows this week. What you were quoted probably is out of line!
We are a mortgage brokerage that works with many lenders. We constantly survey the marketplace, holding lenders accountable, in order to ensure that your home purchase financing is as optimal as possible. Our default starting-point is a fixed low interest rate, with no fees and no points, unless you specifically tell us that you want something else.
We work with a ton of first time homebuyers, we will hold your hand throughout the entire process, we don't charge for preapprovals, and your Realtor will love us. If you don't have a Realtor, we will happily refer you to a great one!
We're far above average with stunning consistency and by non-trivial amounts, but if you want to know what the "average" rate is, here's a great resource:
- Freddie Mac's index. This tracks a vanilla 20% down conventional conforming scenario for someone with great credit, pulling data from hundreds of lenders. We typically beat this average even if you're only putting 3.5% or 10% down, but if you like that "average" interest rate then ask us how much surplus profit for that interest rate we can give back to your family in order to help cover 3rd party closing costs! This index is also built into our cell phone applet that includes a "total monthly payment" calculator, that you can open on-site while viewing homes - click here to check it out.
Reach out for a free no-obligation consulation about how to ensure you get the best financing possible for your home purchase. Call 510-413-3117, and ask for Chris.