Last night on Facebook, I saw an ad for a builder’s lender promoting “limited time opportunity special interest rate” when you purchase one of their new homes. This was being shared by a Realtor whom I’m “Facebook Friends” with. I decided to price out this “special rate” and proved that the rate, while very low, is actually not so special.
Why is my rate quote higher than what is on the internet?
June 19, 2007 by 1 Comment
EDITORS NOTE: This post was written prior to the regulations in 2010 which require a Good Faith Estimate to be delivered upon application. Please be sure to WHEN a post was written when reading a mortgage blog as regulations and guidelines are subject to change.
This is a question I just received from a gentleman who is considering a low down payment mortgage, such as a VA loan or USDA rural mortgage.
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