The current rate on a mortgage
So you want to buy a home or get a better deal on the one you already have. If this is the case, you should not only get the best mortgage rate you can find, but also the current rate and not one percentage point higher.
Before you start looking for a lender who can give you a current mortgage rate, take some time to do some research on your own to find out what the current mortgage rate is. Don't just believe what the lenders say.
There are many places where you can learn about the current mortgage rate and rates in general. Some good places to start are the Internet or the business section of your local newspaper. These will give you a very good idea of how rates are changing.
You can easily get the current mortgage rate if you have what lenders call "A" credit, which means you have a good credit history.
But even if there are problems with your credit, you can still get a mortgage. But the rate you get might not be the same as the current mortgage rate. Instead, it might be a little bit higher because your payment history makes the lender think you might be a little risky.
Whether you have good credit, bad credit, or need help with a unique situation, you should shop around.
By looking around, you give a few to a few different mortgage brokers or loan officers a chance to look at your situation and give you advice.
After each loan officer has looked at your situation, they will let you know what kind of rates they can offer.
Once you have a few offers, choose based on what you think is the best loan deal for you.
Remember that the mortgage business is very competitive, and these lenders don't want you to go to a competitor, so they'll do their best to find you the best deal.
Loan officers and mortgage brokers are also paid on commission, so getting to the closing table is just as important to them as it is to you.
