We all know the internet doesn’t always have the most accurate of information. In the mortgage world this is especially true. Many people see the super low interest rate advertisements. However, many times these are rates based on ridiculous requirements, or paying a lot of money upfront to get it.
All lenders can offer points, which allow you to buy the interst rate down.
An Accurate Rate
Rates are based on a few factors. Credit score, Loan-to-Value ratio, Debt-to-Income ratio, and loan program.