27 Criteria for Quoting Mortgage Rates

What is the Rate Today?

Every day, we get the call asking “What is your rate today on a 30-year fixed mortgage?” It seems like a simple enough question. Unfortunately, when it comes to mortgage rates, one size doesn’t fit all. We have identified 27 criteria that can affect your interest rate.

  1. Loan Size
  2. LTV (Loan to Value Ratio)
  3. CLTV (Combined Loan to Value Ratio)
  4. Credit Score
  5. Credit History
  6. Escrow Preference
  7. Closing Date
  8. Loan Type
  9. Property Type
  10. Occupancy Type
  11. Residency
  12. Available Assets
  13. Asset Seasoning
  14. Co-Borrowers
  15. Debt Ratio
  16. Housing Ratio
  17. Improvements Needed
  18. Employment Type
  19. Employment History
  20. Documentation Type
  21. Transactional DI
  22. Re-Castable
  23. Relocation
  24. Seller Contributions
  25. Gift Funds
  26. Cash-Out
  27. Points Charged Up Front

My mission is to provide my clients with the highest level of service, expert mortgage advise, consistently low interest rates, flexible loan programs, education and direction.

Don’t be fooled by the “Find the Best Mortgage Rates” ads. Unless your lender is asking about these criteria, you may be in for a surprise at the closing table. Please call Doug Kaller @ 775-250-4421. The answers to these questions will determine the rate you qualify for, as well as the best program to help you attain your goals. I look forward to delivering up front all of the answers you need.