Interest Rate Factors. Certain aspects of loan can affect the interest rate:

• Loan Type – VA, FHA, USDA, Conventional
• Loan Term – from 5 years to 30 years
• Loan Amount – higher loan amounts offer better rates
• Loan Purpose – purchase vs. refinance
• Loan to Value – How much you borrow against your home
• Combined Loan to Value – Takes the 2nd mortgage into consideration
• Lock Term – 15 vs. 60 days vs. one year
• Credit Score – 300-850
• Discount Points or Loan Origination Fees

Advertisers need a competitive edge with loan rates. While the stated rate is real, what is missing are the additional factors or fees that are typically found in the fine print. We refer to these practices as “Bait and Switch”.
The Denman Team doesn’t use “Teaser Rates” or “Bait and Switch” to lure in clients. We would much rather provide our clients with an accurate rate that doesn’t have any surprises.