The mortgage rates typically advertised are often only applicable to first-time homebuyers with a 5% down payment, high credit scores, salaried employment, and insured mortgages. While these rates may be suitable for some, they do not reflect the reality for many clients. Those with 20% down or more, self-employed individuals, or those with less-than-perfect credit may not qualify for these advertised rates, as there are distinct rates tailored to these different financial profiles.
Another reason I do not post mortgage rates is that the rates available for pre-approvals and construction financing are frequently different from the rates shown online. Pre-approval and construction mortgage rates are generally higher than the rates displayed for standard mortgages, making it challenging to provide accurate, up-to-date information.
Mortgage rates fluctuate almost daily, and by the time I am able to update rates on the website, they may have already changed. This makes it difficult to provide rates that are consistently accurate and relevant.
I continuously monitor the rates of various lenders and, once we discuss your specific financial situation, I will connect you with a lender whose offerings best align with your needs.