Interest Rates

<a href=''>Shahram Sondi</a>
Shahram Sondi
August 30, 2013

Interest rates on mortgage loans are not set by the government and vary from mortgage lenders to mortgage broker based on loan amount, credit scores and amount of down-payment or equity.  Secondly, based on how much profit the mortgage company anticipates on making determines what interest rates are being offered to mortgage loan applicants such as a first time home buyer.

There are two interest rates typically associates with mortgage loans.  One is the note rate which is the interest rate that your mortgage payment is based on for monthly payment calculations.  The other is the APR which is the true cost of the loan taking into account upfront finance/origination charges associated at the inception of your mortgage.  When using a mortgage calculator, be sure to calculate your payment based on the note interest rates and not the APR rate.

When trying to get the best interest rates, be sure to pay attention to the APR associated with the mortgage note rate to ensure that you are getting a low cost loan and avoid paying excessive origination fees just to get the lowest interest rates.

If you are interested in today’s interest rates in Florida please visit our home page for up-to-date daily mortgage rates.

Hi, I'm Shahram Sondi, your local mortgage expert.

I care about my clients. I believe good service is a must, but nothing is more important than saving my clients money.
  • FREE.
  • Fast.
  • No SSI Needed.
Pre-Approval App
All rights reserved © 2023 Mortgage Expert, Inc. NMLS ID: 2412313 Location: 450 S Orange Ave, Suite 379, Orlando, FL 32801, FL 32746 | Phone: (407) 955-9235 Content provided by Shahram Sondi The information provided on this site is for basic informational purposes only and IS NOT intended as a substitute for professional or legal advice. Notice: SHAHRAM SONDI + CO (License #: CQ1049127) and Mortgage Expert (NMLS ID: 2412313) are both wholly-owned entities of Shahram Sondi (NMLS ID: 186790, License #: BK3225742). Due to this relationship, any referral between these two entities has the potential to financially benefit Shahram Sondi. Under no circumstance are you required to engage the services of one or both of these entities. View $1000 Best Rate Guarantee Terms & Conditions
Get a quote