All About Mortgage Rates

11/28/17 • 14 min

Mortgage rates can be pretty confusing, particularly if you’re a first-time home buyer being overwhelmed with “lowest rates available.” It doesn’t seem to help that many lenders use misleading marketing tactics! Do you wonder how loan officers even come up with those numbers that make up your mortgage quote? In this episode of Mortgage Secrets, John Downs of Downs Capital breaks down what all goes into a mortgage loan rate, why the best available rate on a given day may not be as significant as you think, and how choosing the best loan product (like anything else in the home-buying process) really comes down to what your life goals are.

Previous Episode

How To Shop For A Mortgage

While you might think that the mortgage rate is the most important aspect of your loan shopping experience, there are several things to consider before jumping for the cheapest available. In this episode of Mortgage Secrets, John Downs of Downs Capital shares stories from his 17 years of experience in the mortgage lending industry to illustrate how numbers shouldn’t be the only deciding factor in your loan decision. Signing up for a mortgage is a hefty commitment that goes beyond a monthly payment. You’ll be starting a long-term relationship with a loan officer, so you’ll want to make sure you pick the right one. This episode dives into what makes a loan officer worthy of your business—and friendship.

Next Episode

All About Closing Costs

You don’t want to find yourself blindsided by more fees than you bargained for when you sit down to close the deal. In this episode of Mortgage Secrets, John Downs of Downs Capital talks all about closing costs. What are they? What kinds are there? How much does it vary? From insurance options to title company costs, John breaks down the nitty-gritty of the different fees associated with closing, and he explains what why your estimate might change if your loan officer isn’t paying attention to the details. If you are leaning towards settling with the “lowest price available,” you might find yourself sorry when it comes time to sign the paperwork. This episode covers what you need to know before you make a final decision on a lender, so you don’t end up surprised!