This is a YouTube video titled "Different Rates for Different Loan Types 🤔📈📉 #homeloans #mortgageloanofficer #firsttimehomebuyer" created on March 16, 2024. The content features a single speaker explaining how interest rates vary depending on the type of home loan and borrower details, aiming to educate viewers on understanding loan rate factors to get the best deal.
Have you ever wondered where interest rates for different types of home loans come from? So if you've ever seen a rate on the headlines or online articles, it's almost always talking about a primary residence, 30 year fixed conditional loan, perfect 70 year better credit with a good down payment. If any of the details on the loan differ from that, it's no problem, but it starts to add on to the interest rate. So if you're putting a low down payment or down payment assistance or oh, this Is for a second home or investment property or i10 or DSCR, those start to add on to the risk level and adds on to the interest rate. So we feel like it's very important to break these things down so our clients can see all the details and understand where their rate comes from. That way they know they're getting the absolute best deal.
