We often have offers well below the national averages listed below to help you compare deals and fund your home for less.
How (and why) to compare mortgage rates
We often have offers well below the national average, displaying the interest rate, APR (rate plus costs) and estimated monthly payment to help you compare deals and fund your home for less. In times of volatile swings in mortgage rates, it’s more important than ever to compare today's mortgage interest rates before committing to a loan. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via Optimal Blue rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner’s assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.
To see more personalized rates, you'll need to provide some information about you and about the home you want to buy. When you look at an individual lender's website and see mortgage rates, those are also sample rates. To generate those rates, the lender will use a bunch of assumptions about their “sample” borrower, including credit score, location and down payment amount. Sample rates also sometimes include discount points, which are optional fees borrowers can pay to lower the interest rate. Including discount points will make a lender's rates appear lower.
Whether you're looking at sample rates on lenders' websites or comparing personalized rates here, you'll notice that interest rates vary. This is one reason why it's important to shop around when you're looking for a mortgage lender. Fractions of a percentage might not seem like they'd make a big difference, but you aren't just shaving a few bucks off your monthly mortgage payment, you're also lowering the total amount of interest you'll pay over the life of the loan. This is why I pride myself on helping our clients by shopping your loan with over 90 different lenders to compare and find the right fit for you.
With a preapproval, the lenders verify some of the details of your finances, so both the rates offered and the amount you're able to borrower will be real numbers. Each lender will provide you with a Loan Estimate. These standardized forms make it easy to compare interest rates as well as lender fees.
When you're comparing rates, you'll usually see two numbers — the interest rate and the APR. The APR, or annual percentage rate, is usually the higher of the two because it takes into account both the interest rate and the other costs associated with the loan (like those lender fees). Because of this, APR is usually considered a more accurate measure of the cost of borrowing.
I invite you to reach out to us so we can compare figures for your specific scenario and help you comparison shop.