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Aside from credit score, what factors are taken into consideration to determining my rate, amount available to me, and payment terms.

by polmer.gary128 from Englewood, Colorado. Apr 17th 2018 Reply


William Fanning (t@hlmcolorado.com)
#130 ranked lender in Colorado - 2 contributions

Loan to value, type of property, occupancy (owner occupied, second home, non-owner occupied), loan amount, type of loan (purchase, rate/term, cash-out), length of lock, if the loan is escrowed - should be most of them. A lot of pieces to determine an interest rate.

Apr 17th 2018
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,294 contributions

How much are you financing? Larger loan amounts get better pricing.. What Loan to value will you be at? Lower loan to value's get better loan pricing.. What about occupancy? Owner occupied, 2nd home, investment home? each of these have varying loan pricing.. what about property type? Single Family home? condo? Manufactured home? Multi housing? each of these property types have varying pricing. Do you want your taxes and insurance impounded? If not, it could result in higher loan pricing.. How long is your rate lock good for.. shorter rate locks get better loan pricing. Does your loan qualify for conforming loan's.. or are you having to go to the portfolio market (jumbo).. if so, in most all scenarios, conforming loans have better pricing. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Apr 17th 2018
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Jacob Haddan (jacob@jacobdenver.com)
#136 ranked lender in Colorado - 3 contributions

Property Value, Loan Amount, DTI, Program, Property type, Occupancy, Purpose(purchase or refinance) Doc Type, Zip code, Term, Fixed or adjustable. Email your info over to me for a rate quote today. jacob@jacobdenver.com I always shop for you and quote the lowest price possible.

Apr 17th 2018
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