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Get Local Mortgage Rates- Mike Ramirez Exit Flipper McDaniel Realty Calhoun Ga

Jun. 16, 2010

Current Mortgage Rates- Mike Ramirez

Calhoun GA Realtor

Get Local Mortgage rate updates.

 

 

About The "National" Rate

If you've spent any amount of  time looking for mortgage rates online, you'll find sites touting "national rates" for purchase and refinances.

The most highly-trafficked ones include:

And when people visit these sites for "rates", what they're looking is for something akin to a MSRP for Mortgages; a way to keep their lender honest about rate quotes and such.

Sadly, markets don't work that way.  You can't visit a national website for a single mortgage rate any more than that you could watch a national forecast for a single weather report.

And don't just take my word for it -- check out Freddie Mac's region-by-region breakdown. Each area of the country is broken out by its local rates and fees.  The West tends to be more expensive than the Northeast, for example, but with lower mortgage rates.

Furthermore, rates vary by individual -- a characteristic of mortgages that absolutely can't be captured in a national survey.

National surveys are quotes out of context; good for watching trends, but not much else.

There's The Base Rate, Then There's The Adjustments

When you're need an actual mortgage rate quote, the national surveys aren't going to cut it.  You're going to have to speak with a loan officer, or use on an online mortgage approval system to get it.

Even if you're the best of the best of the best with respect to income, assets and credit.

Mortgage pricing has two parts to it, similar to how you buy a suit.

  1. There's the mortgage "base rate" -- the suit you buy off-the-rack
  2. There's the base rate "adjustments" -- the tailoring of the suit to your fit

As for determining the base rate, Wall Street sets it and there's nothing we can do about it.

Adjustments, on the other hand, are a different story.

Mortgage rates get adjusted for all sorts of reasons.  Some of which you're probably aware of, but most you probably are not:

  • What is your loan size? Smaller than $100,000? Bigger than $417,000?
  • What is your credit score? Higher than 780?  Lower than 740?
  • What is your property type?  Condo? Multi-unit?
  • What is your specific loan-to-value? Below 60 percent? Higher than 75 percent?

And, perhaps the most overlooked reason for adjustment: In what state do you live?

Because of adjustments, it's clear that national mortgage surveys are nothing, if not incomplete.  A rate shopper's true rate is not going to be reflected at the Freddie Mac Web site, or on Bankrate.com, or anywhere else -- it can only come from a mortgage lender who's asked specific mortgage-related questions.

Get A Rate Quote You Can Take To The Bank

When you need a "real" rate quote, talk to a loan officer about it. There's too many nuances to do it otherwise.  You can get a real rate quote by calling me at 770-547-3450 or email Mike@flippermcdaniel.com.

 I work with Knowledgeable and competitive local Lenders. Get a rate Quote within 1 hour.

Exit Flipper McDaniel Realty is the top production and fastest growing firm in Calhoun GA. I specialize in Foreclosure sales and GA Auction Services helping buyers and sellers invest in real estate in Gordon county Calhoun GA including Adairsville, Resaca, Sugarvalley, Plainville, Ranger and surrounding North and Northwest GA .(770)547-3450
 
  
Mike Ramirez
(770)547-3450
815 Curtis Parkway
Calhoun, Ga 30701

 

User Comments

1. RE: Get Local Mortgage Rates- Mike Ramirez Exit Flipper McDaniel Realty Calhoun Ga

Written by: Sally Wellington
May. 8, 2011

I have some credit issues and think I need to maybe deal with one of the smaller banks who have more flexibility in approving people with less than perfect credit.
 
Am I doing right thing if then I find one or two local or online mortgage brokers and apply with them (and only them)?

2. RE: Get Local Mortgage Rates- Mike Ramirez Exit Flipper McDaniel Realty Calhoun Ga

Written by: Secure your future with Mortgage Insurance Toronto
Aug. 30, 2012

It’s not enough to just know what your monthly payments are, find out what rate you are on, when it’s up for renewal, the penalty fee to break your mortgage, and the restrictions for changing your mortgage rate.

3. RE: Get Local Mortgage Rates- Mike Ramirez Exit Flipper McDaniel Realty Calhoun Ga

Written by: Jazz Albert
Aug. 30, 2012

Mortgage Rates can change daily, so it's better to call lenders or check online to get accurate, updated information. It will keep you update time to time.

Secure your future with Mortgage Insurance Toronto

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Calhoun homes for sale- Foreclosures in calhoun ga

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Calhoun, Georgia

HUD OWNED and Bank REO Foreclosure for sale in Calhoun Ga Gordon county and surounding area

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