When it comes to interest rates, it can be tempting to look up rates online. However, interest rates are unique to each person's financial situation, and looking up rates online may not give you an accurate idea of what rates you may qualify for.
For example, I searched online for the “national average interest rates” and one of the first results was a very big national bank quoting a very attractive rate. However, when I clicked on that link and went to find the small print on their website it read “This number is based on rates in the state of Texas at a loan amount of $200,000 with 20% down.” That is a very specific scenario and could be misleading if you are trying to use that number for your own purposes.
Here are some things that make your interest rate unique to YOU:
We want to be by your side through the buying process to help you navigate these factors and find a loan that fits your unique financial situation. In addition, it is important that you have a lender by your side to help you understand the nuances of interest rates and how they may impact your overall loan terms.
Please reach out with any questions – it is our passion to offer advice and support to our clients!
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