Florida Mortgage : Learning Center

We have all seen them.  Advertised FL mortgage fixed interest rates that seem too low or too good to be true.  Whether you are looking at FL FHA mortgage rates, FL VA home loan rates or conventional loan rates; some rate seem much lower than any others.  Some are printed in the local newspaper and can be easily compared to other local lender rates.  Others are advertised on the television with promotions like; this sale ends on November 30; or fixed rates under 4.5% (currently?).  Thousands of mortgage lenders or banks advertise their mortgage rates everyday on the Internet.  And some of those rates are awesome – or are they?

The truth about advertising interest rates for home buyers to compare is; not everyone is advertising within the same parameters.  Many newspaper ads come with a fine printed disclaimer which states the interest rates advertised may include a discount point of 1% or an origination fee of 1%.  Television ads are the same – the devil is in the details – or very fine print.  If you have a large screen and can pause the ad; try reading the disclaimer about their interest rate.  One very well known company claims that the rate displayed includes 2 discount points!  Wow – that’s expensive.  And the Internet marketers for mortgage rates always have a small link located somewhere on their interest rate page.  That link will provide details like additional discount points, additional lender fees, and more.  The rate all of a sudden doesn’t look that attractive.

Yes – in today’s FL mortgage markets you must either read the fine newspaper print; purchase a larger television so you can see the details; or spend hours online searching for the truth about that low fixed mortgage rate.  Or – you can call an experienced and trusted Mortgage Professional; who will provide an upfront Good Faith Estimate detailing everything for fair comparison.  Remember, if it’s too low, look for the truth or pick up the phone, inquire and ask for an upfront Good Faith Estimate.  If you have any FL mortgage question related to interest rates please email or call 321-987-9876.

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