How to Know What Your Mortgage Rate Will Be
The mortgage rates listed above are some of our lowest available for these popular loan options. These aren’t necessarily the rates you’ll get when you apply. Your rate depends on many factors such as your credit, your loan amount and your down payment.
The most accurate way to see what your rate could be is to speak with a Home Loan Expert or apply online with Pacific Wholesale Mortgage. After you provide some basic information, we’ll match you with a loan option and rate that meets your financial goals.
Picking the Right Mortgage
It’s important to match your mortgage to your financial goals. Here are some goals you may have in mind and the loan options that could help you reach them.
A Consistent Monthly Payment
Fixed-rate loans are a great option if you want a monthly payment that won’t change. A fixed interest rate means your rate stays the same for the life of the loan – so your payment will only change if your taxes or insurance premiums do. Many of our clients opt for 30- or 15-year fixed-rate loans.
Lower Rates
Adjustable rate mortgages (ARMs) may offer lower initial rates than some other loan types. ARMs are a great option if you expect to sell your house or refinance before the initial fixed-rate period ends. A popular ARM is the 5-year ARM, which is a 30-year mortgage with an initial fixed-rate period of five years.
FHA: This loan is a great option for people whose credit scores are 580 and higher, and who have a 3.5% down payment
VA loans: A home loan for qualified veterans, service members and spouses
Jumbo loans: These offer low interest rates for loans between $548,250 and $2 million
