How can I get lower rates?

1) shop with other lenders ..make sure you get quotes from loan officers on same day using all the same parameters 2) consider using an ARM loan 3) ask your lender for lower rate options via paying larger loan fees 4) is this for a purchase loan ? if so - you cant lock a rate in until you have a purchase agreement Dave Skow | Loan Officer Movement Mortgage NMLS 278613 Dave.skow@movement.com Mobile (206) 714-9745

I am a wholesale mortgae broker that works with 70 banks that we shop your profile to match with the best rate for our clients. Retail and Big Banks have mulitiple layers of management which raise cost or your mortgage rate. 619 884 9116 ryar@barrettfinancial.com www.mortgageonly.biz

While there are potentially slight differences in rates based on lenders, you must understand that lenders all base rates on the mortgage backed security bond market (MBS), and don't just make up rates. Think of it as any retailer buying shoes from the wholesalers. We are all paying the same cost for the shoe. From there, lenders all need to charge the same pass through fees (appraisal, credit report, title company, escrows, etc). All lenders need to make a profit, and yet be competitive. This is why you generally see all lenders extremely close in rate everyday. One of the bigger differences is that interest rate and closing cost also go hand in hand, and this is a major area of confusion for borrowers. For example, think of a teeter tooter. I can give you low closing costs, but then I need to raise the interest rate. I can give you a lower rate, but I then have to give you higher closing costs. There is no such thing a s 'negotiations', under both of those options, the lender will make the same money. Our company lends in CO, TX, FL, MN, WI, IA, ND, SD. | Cambria Mortgage, NMLS 274132 | https://www.cambriamortgage.com/mortgage-member/joemetzler/