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What is considered a "low" rate?

by sah22189 from Danby, Vermont. Dec 28th 2017 Reply

A low rate where it will calculate your payments that, will fit your budget.

Dec 29th 2017
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,296 contributions

Low? Great question. The answer is that low depends on many factors. A 6% rate today might seem low to someone with bad credit getting a sub-prime loan, while that would be high to someone with excellent credit getting a standard loan. Then as rates vary based on other factors, like term. So 4% today on a 15-yr fixed might seem a bit high, but is fine for a 30-yr fixed. Then how about understanding costs as they apply to rate. A 3.50% rate is LOW on a 30-yr loan today, but you'd need to pay discount points to buy it down. Do you want to do that? So 'low' is really up to you, your situation, and then your wants, needs, and goals. Stop chasing 'low', and simply find a great Loan Officer in your area who can go over all these items and explain everything so you get the best deal for you and your situation. In MN, WI, and SD, I can do that, and I am at

Jan 2nd 2018
Jason Vondrak (jvondrak)
#221 ranked lender in California - 1,741 contributions

Rates depend on one's credit, where the market is at, loan term, etc. If you are willing to pay points, you can obtain a rate that is lower than it would be if you do not. Feel free to contact us today if you have any other questions!

Jan 3rd 2018
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