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Mar 24, 2020
Right now, hysteria is gripping the masses over the Coronavirus (aka “COVID-19”). Ridding ourselves of any germs that can contain this potentially lethal virus is priority #1 for most- so how do we do it?
First things first, we must understand how the germs spread. The virus is not technically airborne (although it can be physically passed through the air through droplets). However, it is us...
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Mar 19, 2020
Times are looking bleak for many; Some are out of work, companies are struggling to stay afloat and the economy has been hit hard (All due to the spread of the Coronavirus that has infected masses of people and proven fatal for others). A recession (greater than the “Great Depression”) is projected for the near future, but it’s during these tough times that we must band together to prove our st...
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Nov 26, 2019
Financial Tips / Loan Options / Mortgage Basics / Mortgage / Learning Center / Home Ownership / Buying a Home / Refinance
Perhaps you’ve heard the term “Lock In” regarding Mortgage Interest Rates. It sounds like a big, and perhaps scary, commitment- no? No worries! (And no need to get cold feet.) We’ll explain why Locking In that Mortgage Interest Rate isn’t as big of a step as one may think.
What happens when you lock it in?
Locking In the Mortgage Interest Rate is one of the earlier steps taken when securing a...
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Nov 21, 2019
Thinking of Refinancing? Before a Mortgage Lender will issue you a Mortgage Loan, they need to get an idea of what you can afford. One of the most telling ways for a Lender to get a glimpse of your affordability is by going over the last year or two (depending on the employment or loan type) of Tax Returns as well as other requested Financial Documents (These may include bank statements, pay st...
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Nov 20, 2019
Ah... that pesky Mortgage Insurance- Isn’t there a way to get rid of that extra monthly payment? Good news! There are ways to eliminate that additional Debt. But first, let’s go over what Mortgage Insurance is.
What is Mortgage Insurance?
Mortgage Lenders often require Mortgage Insurance for certain types of loans; This insurance lowers a Mortgage Lenders’ financial risk and enables homeown...
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Whether you own a home, starting the home-buying process, or getting your feet wet with knowledge –
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© 2020. Get A Rate LLC. All Rights Reserved
NMLS #907795 Licensed Residential Mortgage Lender in CA, WA, GA, TX, PA, CT, FL, SC and NJ (by the NJ Department of Banking and Insurance). Equal Housing Opportunity Lender. When and if acting as a broker, Get A Rate will not make commitments or fund mortgage loans. Registered NY Mortgage Broker. All NY mortgage loans are arranged with third party lenders - Get A Rate LLC does not directly offer or guarantee NY interest rates or loan programs and does not directly issue commitments or make final decisions on loan terms. Authorized website by the New York State Department of Financial Services.
Get A Rate LLC is an FHA Approved Direct Lending Institution, and is not acting on behalf of or at the direction of HUD/FHA or the Federal government. These programs are not a commitment to lend and program guidelines are subject to change.
Additional Disclosures
Rates as of 12/5/20. Recently advertised rates are subject to change without notice. Advertised rates are based on an owner-occupied, single-family, residential properties, a credit score over 760, 75% LTV purchase/rate term, the debt-to-income ratio is less than 36%, and an escrow account for the payment of taxes and insurance.
If LTV > 80%, PMI will be added to your monthly mortgage payment on conventional loans. FHA Loans will always have upfront MIP as well as annual MIP added. Military/VA loans will require a VA Funding Fee unless otherwise exempted.
An advertised rate is not guaranteed and does not constitute an approval. Actual payments will vary based on your individual situation and current rates. Not all applicants will be approved. Minimum credit score requirements apply. The lock period for your rate is 30 days. Fees and charges may apply.
Full documentation, acceptable properties, insurance, and additional underwriting is required. Loans are secured by liens against real property. Terms, conditions, and restrictions apply. NY Loans are arranged through third parties. Lending services may not be available in all areas.
Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. Get A Rate offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call to talk to one of our mortgage experts.
Calculations computed by Get A Rate Rent vs. Buy and Affordability calculators are estimations. Get A Rate is not an accounting firm or financial advisor. Please consult a tax professional and/or financial advisor for more accurate information.
