Interest Rates

A number of factors will influence your interest rate, including your credit score, the amount you are borrowing relative to the value/price of the home, the type of property you are purchasing or refinancing (single family home, condo, 2-4 unit property), the purpose of your financing (purchase, refinance wit no equity removal, refinance with cash back to you, finance investment property, finance second home), and the length of the rate lock commitment. This pricing differentiation is called “risk-based pricing”. Because of these many pricing factors, it is not possible for us to accurately present interest rate alternatives on this site: we need to know a number of things about your situation to provide a reliable interest rate quote. No lending institution can provide accurate rate quotes without knowing this information.

For this reason, to get an idea of the general level of interest rates, we suggest that you visit the rate summary provided by the Federal Home Loan Mortgage Corporation (FHLMC, or “Freddie Mac”). The link to this summary is below. This will give you an idea of the general level of interest rates and also about recent movements in interest rates.

Your loan officer can provide you with an interest rate quote that is tailored to your situation.

http://www.freddiemac.com/pmms/