Real Estate Financing - The Truth About Advertised Home Mortgage Rates

Insiders know that the advertised mortgage rates you find are not always what you'll get from the lender.  It's not meant to be a common bait and switch tactic. It could be market fluctuations or economic news, but interest rates can change throughout the day.  Rates can go up if the picture is painted that the economy is flourishing, like more jobs being available. This can lead to inflation and send the rates up.

People are not aware that they may be able to customize their loans.  They just need to ask the lender.  Lenders advertise 15-year loans and 30-year fixed rate mortgages but applicants can ask for 20 or 25 years.  This may allow borrowers to build up equity faster but keep monthly payments affordable.

It's always good to know the truth about advertised mortgage rates when you need real estate financing. As we mentioned, rates can change fast, one way or another.This is true for residential, commercial and investment real estate fianancing.