24 Criteria For Quoting Accurate Mortgage Rates
Before quoting rates for a client there are at least 24 things I need to know about you, the transaction and the property. This is a list of the most important 24. Do not just look at a rate and assume that is what you will get. You may get a lower rate or a different loan depending on these 24 criteria. Anyone quoting a rate without finding out this information is not providing an accurate rate quote.
wLoan Size wResidency wDocumentation
wLTV wAvailable Assets wTransactional DI
wCLTV wAsset Seasoning wRe-caste Option
wCredit Score wCo-borrowers wRelocation
wCredit History wDebt Ratio wSeller Contributions
wHousing Ratio wPurchase/Refinance wClosing Date
wLoan Type wProperty Type wOccupancy Type
wEmployment History wPre-payment penalty? wGift funds
Anyone providing a quote for a mortgage rate that is not considering these criteria is not providing an accurate or reliable rate quote!