How is your interest rate calculated?

There are many factors involved with determining the interest rate that you will pay on your loan. The following list is a few of the items that are considered when calculating your rate.

• Loan to value
• Credit score
• Income amount
• Subject property (is it your primary residence, second home, or income property?)
• Impounds for taxes and insurance
• Rate lock time frame (15, 30, 45 days)
• Type of loan (for example: Conforming, Jumbo, ARM, VA, FHA)

Interest rates can change on a daily basis, and usually the rates change more than once a day.

Remember, when shopping for your loan, compare the APRs of each loan program. The APR (Annual Percentage Rate) takes into account the interest rate as well as closing costs - this gives you a more accurate way to determine the cost of the loan.

We have a variety of lenders to choose from, each with a wide selection of loan programs. With our knowledge and expertise, we can ensure that you get the best deal out there for your particular situation.