How Is Your Interest Rate Determined

Dated: 04/05/2018

Views: 318

 Most people want the lowest interest rate on their mortgage loan but do you know what other variables can affect that interest rate? Below is a list of different variables.



  • Loan amount

  • Loan Type (CONV, FHA, VA, USDA)

  • Loan Term (30, 15, 7/1)

  • Amortization (FIXED, ARM)

  • Purpose (Purchase, Refinance)

  • Cash Out/Amount

  • LTV 

  • CLTV

  • Property/State

  • Property County

  • Property Type (SFR, Condo)

  • Number of Units (1-4)

  • Occupancy (Owner/Investment)

  • Credit Score

  • Credit History

  • Debt Tolerance Ratio

  • Asset Verification

  • Reserves

  • Relocation

  • Gift Funds

  • Concessions

  • Income Verification

  • Employment Status

  • Employment Documentation

  • Co-Borrower (Occ/Un-Occ)

  • Citizenship/Resident Alien Status

  • Lock Period (7, 15, 30, 60, 90)

  • Mortgage Insurance (MO, LPMI)

  • UW (Underwriting) System (AUS, DO, DI, DE)

  • Escrow (Included, Yes or No)



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Whether you're looking to purchase a home now, or in the future, learning what variables impact your interest rates can help you better prepare yourself for the home buying process and negotiating your mortgage loan. Give me a call today and I would be happy to put you in contact with one of the preferred lenders we have worked with over the years and help you prepare for the process of home buying!



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Best Priced Properties Team Russell and Melissa Banki Texas REALTORS- Hite Properties Certified Negotiation Experts (CNE) Accredited Luxury Home Specialist (ALHS) Certified Home Selling Advisors (CHSA) Certified Home Buying Advisors (CHBA) office 936-270-8090 Certified Expert Home Selling and Buying Advisors. Ask us about our Smart Home Buying and Selling Strategy. CALL OR TEXT. cel 713-480-0889 or 936-445-0216. As local real estate Montgomery County Real Estate Experts in The Woodlands, Spring, Shenandoah, Magnolia, Montgomery, Conroe and Greater North Houston/Houston Metro areas we can save you valuable time & money! Contact us today. It would be our pleasure to help you with all your residential/commercial buying, selling or investment needs. We believe our clients should feel confident and benefit from selling or purchasing real estate. 

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Melissa Banki | REALTOR® GRI

REALTOR®, GRI - Hite Properties Best Priced Properties Team - The Woodlands TX Office: 936-270-8090 ext 109 Cell: 936-445-0216 Efax: 936-270-8774 Client First! We believe our clients should ....

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