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The
number one concern most of my clients have is “What
interest rate can you get me?”
Although this seems like a simple question, the answer isn’t
always easy. The interest rate we can get you depends on (but not
limited to) the following:
1. Your credit history and score
2. Your income and assets
3. Your down payment (or equity in a refinance)
4. The Loan type you select
5. The Property type (Single Family Residence, Condo, Multi-Unit,
etc.).
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A
bad mortgage broker will quote you an interest rate without really
knowing the full story of your loan scenario.
A good mortgage broker knows what items are
important, which items can be maneuvered, and which lender is most
appropriate to utilize, and how to best structure the loan.
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With
access to over 50 banks and lenders and a thorough understanding
of their underwriting matrices and conditions, Anthony
Sanelli knows how to match the right lender to your preferred scenario.
Why is this important? It will ensure you get
the best interest rate, save
the most amount of
money during the life of your loan, minimize risk of loan decline
by an incorrect submission, and minimized
discomfort of a potential bad result and frustrating process.
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Keeping
that in mind, below is a chart of recent activity of the average
interest rates going on various loan types:
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