Rainbow Mortgage

The subject of mortgage interest rates and points has traditionally been a source of considerable stress for home buyers. But it needn't be stressful at all if you understand a few simple basics

Have questions about home financing or the approval process? Please do not hesitate to contact me or call me directly at (952) 985-4113.

Winning the Interest Rate Game

Rates change daily
And in many cases hourly. Yesterday's quote is very likely to be different than today's, and today's different than tomorrow's. If you can't afford a rate increase, then lock in your interest rate and points as soon as you've completed your loan application.
Don't play the guessing game
Nobody, and we mean nobody, has the power to accurately predict when, and in which direction, interest rates will move. If a lender tries to tell you otherwise, it's a good indicator that it's time to find a more honest or knowledgeable lender.
Getting the right Rate and Point combination
Determining which combination of rates and points is best for you is generally a function of how long you intend to keep the mortgage. In general, the longer you plan to keep the mortgage, the more advantageous it is for you to get a lower rate by paying more points. Speak with one of our experienced loan counselors to determine the best combination for your unique situation
Don't be seduced by "low-ballers"
While the overwhelming majority of mortgage lenders are honest, honorable, hard-working professionals, unfortunately, there are a handful who aren't. Be wary of lenders promising exceptionally great rate quotes. Instead, limit your focus to professional lenders, passionate about their work. In the end, you'll get great service and a great rate.

Now, if you really want a more in-depth understanding of the factors that affect interest rates on a daily basis click on The Expert's Guide to Mortgage Interest Rates. Read it carefully. The information presented in it will help you to better understand the mortgage lending process and will help you save both time and money.

Should you have any questions, please contact our mortgage lending experts at any time. They are among the most knowledgeable professionals in the nation and they're dedicated to making your loan approval process an easy, pleasurable experience.