In this short video I share 3 tips for getting the best mortgage rate.
First, know your vitals and how they affect your rate. FICO scores, LTV, DTI ratios, etc. all can affect your rate and you need to know how to adjust accordingly.
Second, the amount of secondary market lenders your broker or banker works with can have a significant impact on the end rate you receive. Every secondary market lender prices differently every day.
Third, know how your broker or banker is paid. I believe you can get better rates from commissioned loan officers, but you need to know their target commission so you can get the best rate and they make a fair commission.
Email me if you want more tips on getting the best mortgage rate at email@example.com.
Simon Lambert, of This is Money, Jenny Hammond, of TipTV, and Andrew Montlake, of mortgage broker Coreco, discuss whether interest rates will be cut, how much cheaper mortgages can get and whether this is a good…
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