Michigan Mortgage Brokers – What Is Your Mortgage Rate?
The question we get asked all of the time is “What is your rate?” Many people get frustrated when they don’t receive a rate quote on the spot.
We try to make this as quick and transparent as possible but take a look at this lender rate sheet and you will see we need to ask a few questions to determine your rate.
Key Information Needed For An Accurate Mortgage Rate Quote
Here are the key pieces of information needed to give you all of the details.
Current mortgage balance
Current mortgage rate
Current payment breakdown
Principal & Interest
Escrow Portion (Taxes & Insurance)
Second Mortgage Balance (If Applicable)
Property address for us to investigate estimated value
Last 4 digits of primary borrower’s Social Security Number – to determine HARP eligibility
Many times people simply email us a copy of a recent mortgage statement detailing the above information.
Know All Your Mortgage Loan Options
Our goal in this process is to give you multiple loan options for review with accurate closing costs in a simple and clear format. We feel if you have the information and YOU are asking the questions the conversation is much more productive