The current mortgage rates are all anyone can talk about today and for good reason. With rates higher than the past few years, many borrowers are concerned about their ability to take out a mortgage. We don’t want you to be scared of interest rates, though, as it’s just one piece of the puzzle.
At Priva Mortgage, we strive to offer you the lowest and most affordable rates possible.
At Priva Mortgage, we offer our borrowers a rate quote that includes the total cost of the loan (APR). This allows you to see what rates we offer and how it affects your payment. You can compare your options with different scenarios such as a higher or lower down payment, different loan terms, or different loan programs.
The mortgage rate is a percentage of the amount outstanding, aka it’s fee that covers the cost of borrowing funds. You pay less interest each month as the principal balance decreases.
There are many factors that affect the mortgage rate you’re quoted, some of which are out of your control. Inflation, the economy, and the Fed’s actions are things you cannot control when it comes to interest rates.
There are certain factors you can control to get the lowest mortgage rate out of today’s current rates.
Since we base your rate on your risk factors – how likely you are to default, the better your factors are, the lower the rate you’ll get. The following factors help lower your score:
It’s important to get quotes from several lenders when you look at interest rates. No two lenders will offer the same interest rates. Some charge more than others, so comparing your options can save you money.
At Priva Mortgage, we strive to offer the lowest rates possible. We work with our borrowers, providing different scenarios so you can see which option makes the most sense
At Priva Mortgage, we help our borrowers look at the big picture. Don’t focus on the percentage of your interest rate, but the total cost of the loan. Look at how the loan affects you in the long run.
We help our borrowers choose loans that make the most financial sense, ensuring they make the most of their situation. At Priva Mortgage, we do everything within our power to offer the best interest rates possible while keeping your closing costs down too.
Contact us today to see what rates we can offer you!
