Thursday, January 8, 2015

Mortgages Drop Near Record Lows

What Is A Mortgage Rate? 

A mortgage rate is the interest rate on your home loan. There are many factors that go into deciding what your interest rate will be when securing a mortgage including inflation, the Federal Reserve, the yield on the 10 year treasury note, your credit score and the mortgage company’s specific fees.

How is the Interest Rate Different from the Annual Percentage Rate (APR)?

The interest rate is the rate on the loan itself and does not take into account closing costs. The APR is the interest rate with the closing costs or closing credits accounted in it. The APR provides a more “apple-to-apples” comparison across loans, as long as the same types of costs are included in each home loan.

Why Guaranteed Rate? 

Guaranteed Rate was founded on the idea of making the mortgage process easier while bringing savings to home buyers from application to closing. We really pride ourselves on bringing low mortgage rates and low fees to our customers – after all, the less you spend on your mortgage, the more you can spend on other important things in your life.

By simplifying the mortgage process, we’ve been able to find ways to keep the mortgage rates we offer lower than our competitors. And we’re so sure about our low rates that not only do we post a live comparison of our mortgage rates versus our competitors – we even named our company after it.

If you are ready to get the ball rolling on your property purchase, call Bill Rayman to discuss your situation in detail. Bill is a seasoned mortgage counselor who can show you the options that are open to you. He'll explain that the lowest interest rate may not always be the wisest deal overall. Call right now at  424-354-5325 and ask for Bill.

Bill Rayman Home Mortgage

12121 Wilshire Blvd
Suite 350
LA CA 90025


1 comment:

  1. Good post for all kind of real estate info finder. Specially this post would be helpful for Mortgage Broker.I have found similar helpful information at Ontario Mortgage Broker blog.