Seeking the Best Mortgage Rates

Seeking Advice
1

I’m looking for the best mortgage rates currently available. Does anyone have recommendations on where to find competitive rates?

2

Consult a mortgage broker. They have access to multiple lenders and can offer wholesale rates.

3

Some new construction builders are offering rates as low as 3% to move unsold homes.

4

Kim said:
Some new construction builders are offering rates as low as 3% to move unsold homes.

That’s typically because they’re trying to clear inventory.

5

Rey said:

Kim said:
Some new construction builders are offering rates as low as 3% to move unsold homes.

That’s typically because they’re trying to clear inventory.

True, but there are still bargains, especially when builders are finishing a development and want to move on.

6

@Kim
Just be cautious with rate buydowns. If they’re offering significantly lower rates, you might be paying too much for the property.

7

Rey said:
@Kim
Just be cautious with rate buydowns. If they’re offering significantly lower rates, you might be paying too much for the property.

Even if the rate is low, being overpriced can negate the savings. However, the low rate could still be beneficial long-term.

8

Kim said:
Some new construction builders are offering rates as low as 3% to move unsold homes.

Do builders provide loans directly?

9

Check out this YouTube video for guidance on finding the best rates, the creator has over 27 years of experience in the field.

10

I’ve found better rates with local banks and credit unions compared to national or online lenders.

11

Brokers often provide better rates due to their access to multiple lending sources.

12

It’s best to shop around yourself by comparing different lenders directly.

13

Wyn said:
It’s best to shop around yourself by comparing different lenders directly.

I’m already comparing rates, but I’m looking for insights from others who have recently navigated this process.

14

@Pacey
The key is negotiation. Get quotes from a few lenders, then have your preferred lender match the best offer.

15

@Pacey
Start with a bank where you already have relationships, and consider local recommendations from a realtor.

16

This question is common, but the real value comes from assessing a lender beyond just rates, including service and support.