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How to get best mortgage rate?
It is difficult to compare mortgage rates without filling an application with every single lender, because the advertisements do not let you know how many points there are for that rate. Thankfully, Bankrate does let you know in their comparison chart.
I'm currently working with a Loan Depot person that did my last home loan (through a different company at the time). Loan Depot was around 3.25-3.5% APR before last month and comparable to other things I found. Now I am just under 60 days to closing and they want to do 4% APR.
As of today 1/11/22 by checking on the specific websites, Blue Spot Home Loans is 3.374 apr (0 pt), BofA is 3.478 apr (0.57 pt), Wells Fargo is 3.6xx apr (up to 0.5 pt) (checking with 25% down, but 20% down doesn't increase the rates that much). Curiously, Better.com is 4% APR per Bankrate as of today, when they were the around best a couple months ago.
The loan amount is around 300k depending on how much I put down. Credit is 775+ depending on which score you check, FICO 805-825 per my CC account. OKC area. New build.
How do I get the best rate? I know the loan depot person will get the job done by closing, so I'm hesitant to go with someone else, but 3/4% drop in rate is a large amount of money over the loan term.
Those are awesom news.
If you want to find the best mortgage rate, it's a good idea to compare rates from different lenders. You can use various sites like to compare rates from different lenders. It's also a good idea to work with a mortgage broker, like Mortgage Broker Newcastle, who can help you compare rates and find the best deal for your situation. They can help you navigate the application process.
In my personal experience, working with a mortgage broker has helped me get a better rate and made the process much smoother. If you're unsure which lender to go, I recommend reaching out to a mortgage broker for guidance.
Hey! I am planning to take out a loan, which office can you recommend me?
If you have taken out a loan but cannot repay it for various reasons, I advise you to contact the team of professionals at spfoffers.com. This company has been on the market for more than two years and helps such people who have loans. Therefore, if you are looking for the most profitable solution to your problem, I advise you to contact them. I personally approached them, so I know that their work will definitely help you.
Thanks for sharing your mortgage rate situation. It's definitely confusing trying to compare rates and figuring out what's the best option.
Have you considered reaching out to a mortgage advisor like Mortgage Advice Leeds? They can help you compare rates and options and ensure you understand the terms and conditions. Plus, they can help negotiate the best rate for you and lower the 4% APR you're currently facing.
In terms of getting the best rate, having a solid credit score is key; as you mentioned, yours is 775+. If you can put more money down for a larger down payment, that can also impact the rate.
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