Mortgage Rates
Lending You Will Like
We match clients with the mortgage that makes the most sense for their situation. Every borrower has their own needs and background, so there is no one-size-fits-all home loan. That’s why we offer a diverse portfolio of loan products.
If you’re a first-time homebuyer, real estate investor, self-employed, high net worth, or foreign national, we’ll find your best financing solution with the lowest rate and process your loan quickly and efficiently.
Mortgage Payment
Calculator
Our Mortgage Payment Calculator estimates your monthly payment in four categories:
Principal
Interest
Property Taxes
Homeowner
Insurance
WHAT DO MORTGAGE RATES MEAN?
The mortgage rate is the interest you pay on your home loan. Your monthly mortgage payment includes interest, plus a portion of the remaining principal balance. A lower interest rate means lower monthly payments. Even a 1% difference in rates can save you a significant amount of money.
Mortgage rates are volatile and rise and fall each day. This fluctuation is caused by various factors, including:
Your
Principal
When the economy is strong, rates often go up. When the economy is weak, rates tend to go down. Lenders also analyze data to forecast economic growth or slow down and set rates accordingly.
Federal Reserve Activity And Inflation
To keep inflation in check, the Federal Reserve controls the amount of money flowing through the economy by increasing or decreasing interest rates. When necessary, it inserts more cash through the purchase of treasury bonds. This promotes economic activity and lowers interest rates.
World
Events
When a crisis or significant event is happening internationally or domestically, there can be economic uncertainty, impacting investor confidence, and affecting interest rates.
The mortgage rate you’ll be offered on your loan depends on the factors above, as well as your financial situation. This includes your credit score, loan amount and terms, home purchase area, down payment, and more.
Mortgage rates also impact refinancing. The ideal time to refinance is when there is a sizable gap between your current mortgage rate and the current market rates. This is when a refinance can save you a significant amount of money.
If you were previously denied a mortgage, didn’t qualify, or weren’t pleased with the terms you were offered before, speak to a Benjamin Group loan officer. We’ll find your best home financing solution that meets your current needs.