| |
|
|
Everyone is rate conscious. It is a given. We haven't
yet met a client who has asked for a high interest rate
loan.
|
| Here's how it
works. |
| Rates are
delivered to us daily by the lenders. In a volatile
market the rates can change every day or even several
times each day. Sometimes the market remains flat and
rates barely or minimally fluctuate for weeks. We watch
the market closely and work to anticipate these changes
for better or worse, but the process is speculative. If
we could predict the future with absolute certainty we
all would be very rich. To this end we make a
firm....very firm....commitment at
Green Valley Mortgage
to quote the rates accurately as delivered by the
lenders. Generally, we find that our clients come to
appreciate and depend upon our honesty, especially in a
world of misinformation. Our experience tells us that if
a competitor's deal sounds too good to be true, it
probably is too good to be true. |
|
|
|
When to lock your rate will always be your call. |
|
During the mortgage process we will keep you apprised of
rate changes and advise you of current trends and
predictors impacting the market. However the decision
and control will remain with you. When you lock, we will
insist that you lock for a period that corresponds with
your closing date. For example, you should not utilize a
short lock period of ten or fifteen days when you do not
anticipate closing for another month. If your lock
expires the lender generally will re-price your loan on
the day of the lock expiration. Only in some cases, can
we secure a rate extension for which the lender will
charge a fee. |
|
|
|
Different loan programs have different interest rates. |
The rate can vary according to whether the loan program
is fixed, variable, conventional, conforming,
non-conforming, single family, multi-family, mixed use,
A-credit or Bad credit. Suffice it to say that many
factors determine the rate, and we cannot give you
responsible and accurate information about the price
until we know what program or product fits your needs.
For each loan program the rate is based on either paying
or not paying points. Typically, we quote to you rates
based on no points - a zero point loan. You always have
the option to pay points to buy down the rate, but you
should not assume that you will realize savings over
time with a lower rate simply by paying points. There
are many factors which we should consider together
before making that decision
|
|
 |
|
