Its only fair I tell you up front that I provide great service at a fair price. I don't sell outlandish claims or comic book rates. Financing is to important to just give you a quick answer that means nothing just to get you to contact me. I have no problem working out an interest rate and program you can live with, simply complete the pre-qualification form for a custom quote.

I am in the business of closing loans, not just taking loan applications. If I give you a 2% interest rate but do not close the loan, both of us have done nothing but waste our time. Allow Mr Mortgage to give you a custom quote on a good loan at a fair price, a loan that will close. Honesty is still the best policy.

Quoting rates are virtually useless, no loan company can give you a rate without knowing several important factors:

1. Your credit score, which is determined by your past credit history and money management skills. A person with a 500 credit score will have to pay a higher rate than someone with a 800 score.
2. The type of property you are purchasing, investment property and 2-4 unit, condominiums with pre-sale requirements may have higher rates
3. Higher Loan to value ratios (LTV) loans may have interest *rate bumps assigned by the investor. Borrowers that want 100% loans may have a higher interest rate than someone that is putting 20% down.
4. Lenders risk clients that have high credit scores been on their jobs a long time and have substantial down payments and reserves even after closing usually get better rates. While those of us that live in the real world have imperfect credit, no money down and a problem documenting part of our income, have to realize the lenders charge a higher rate of interest for doing these types of riskier loans.
5. Loan types stated income loans, no document loans, non-conforming, sub-prime loans all have the potential to have higher rates than a 30 year conventional loan with 20% down from someone that works a 9-5 everyday.
6. Employment - are you self-employed, or get paid cash or simply cannot document where a portion of your monthly income comes from? This is a dilemma a lot of us face, investors adjust their prices accordingly.
7. Documentation, will you be able to easily document and the lender be able to verify your employment, savings information, down payment funds, etc. If not market interest rates may not be attainable.
8. Ratios, are your monthly bills high compared to your monthly salary? Will the new home you want to purchase not look to good when combined with your proposed monthly expenses? May someone that lives with you be moving into your new home but cannot go on the loan with you, contribute to your household expenses?
9. Low loan amounts, smaller loans may have interest rate *bumps from the investor in order to fund the loan.
10. Loan difficulty, how much time will the loan officer and staff have to put into the loan? Will it close in a timely fashion or will it take three months because of the complexity of the deal. Would you agree that a loan that takes 70 hours over the next month, should pay more than a loan that only takes 10 hours to complete.