mortgage rates

[Anonymous]

Where can I get the rates listed on the front of this website?

When I look locally on lending websites they are higher.  My score is 808

I noticed that the rate jumps somewhere between $400k and $500k, where doe sit change?

Thanks,      Jim

[ShanetheMortgageMan]

The rates on the front page of myFICO.com are not advertised rates, they aren't even accurate in my opinion...  they really shouldn't even be there as rates are determined by a lot more than just the credit score, so it's more of a selling point to get your FICO's higher, which isn't a bad thing, but it should say that scores aren't the whole picture when determining your interest rate.  I wouldn't base choosing your financing source on advertised rates on a website, it's likely going to be the biggest investment in your life, so you should choose your financing source based on the rates/terms, the character of the individual you are working with, and how they will handle the processing of your mortgage.

On 1-unit properties, loan amounts $417k & under are called conforming loan amounts, since they conform to the GSE (government sponsored entity) underwriting guidelines of Fannie Mae & Freddie Mac.  Loan amounts over $417k are considered non-conforming, and thus have a higher interest rate.

[Anonymous]

wow my local rates are 0.4% higher than they have posted.

I agree about comparing details before selecting a provder, but their posted website rates give you a quick starting point to compare.

Thanks,    Jim