There are many factors that affect the interest rate you will be charged on your mortgage, such as your credit score, your LTV (loan to value) ratio, your documentation type, your debt to income ratio, whether or not you establish an escrow account and various other items all factor together to determine your interest rate.
It is important to talk with an educated loan representative to determine what your home financing goals are. After consulting with your loan representative, they can make recommendations on which loan programs will work best for your unique situation. Because the SoCal Group is a direct lender, we have relationships with various investors who allow us to shop many sources to find you the best interest rate.
Many people believe that the interest rate is the most important factor when they are shopping for a home loan, however, we feel that the most important aspect is seeking out a loan rep that is able to determine what programs are best suited for your unique situation.