Lowest Mortgage Rates in Connecticut (CT)

Dec. 7, 2009 - PRLog -- Many times per day I receive phone calls from borrowers asking me " What is my rate"?

As both a Direct Lender and a Mortgage Broker, VanDyk Mortgage in Wallingford, CT has
access to interest rates from a variety of mortgage sources including our lending division.
The final rate will be a combination of many factors including but not limited to:

Is the transaction a purchase or refinance?
If a refinance, is there "cash-out"?
What is the "loan-to-value", or conversely what is the down-payment percentage or what
percentage equity is there in the property if a refinance?  
What is/are the middle credit scores from the 3 credit bureaus for the borrower(s).
Is the property owner-occupied or an investment property?
Does the borrower want to pay "points" to buy a lower interest rate?

These variables and several others are utilized to determine the ultimate interest rate that
the borrower will pay.  In a refinance transaction the new loan program and new interest rate must provide a "tangible net benefit" to the borrower.  In other words the new loan program must be better than the current mortgage program.

My advice to anyone shopping for a mortgage is to talk to a mortgage professional that has access to mortgage products from more than one source.  The mortgage pro can compare rates from one lender to another and often the mortgage professional is more knowledgable about mortgage programs than the local bank.  Usually the mortgage professional can beat the local bank by 1/8 to 3/8 of a percent (or more) on the interest rate.  Always ask for a Good Faith Estimate of Closing Costs to allow you to compare programs from one mortgage source to another.  

Because of the constant changes in today's mortgage marketplace an informed, diversified mortgage professional will help you find the most competitive interest rate that will include reasonable closing fees.

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Direct Lender specializing in purchase and refinance mortgages in the State of Connecticut (CT).
First Time Home Buyers. FHA mortgages.
Debt Consolidation.
Reverse Mortgages.
Home Equity Loans.
Low Rates.
Reasonable closing fees.
Decisions made locally.
Direct access to underwriters via loan officers.
Closings in a little as 7 days.