Who has the best interest rates RIGHT NOW?

Question

Getting pre approved in the Alabama area.

Who has the best interest rates?

Looking at a conventional loan, 20% (or less if possible) down

Thanks in advance!

Stephanie P. · Answer

Everybody has great rates right now.  We're at historical lows.  Your question is non-sensical because of the myriad factors that go into a "rate".

My advice; If you just want a great rate, call LoanDepot or Quicken.

Once they make sausage out of your loan, go to a local REIA or meetup and find a mortgage banker/broker who can interview you, find out what you're particulars are and craft a loan specific to your needs.   You could even find a local or national lender here on BP that could help you using the state specific forums.

Your lender should be a partner in your real estate journey like an insurance agent or Realtor or title company.  All should provide reasonable rates and be compensated for their time and expertise.

Bottom line, rate is just one factor of many that go into a originating a loan.

Stephanie

Marcos Gonzalez · Answer

@Silas Barker Whats the purchase price and zip?

Silas B. · Answer

Sorry, large lenders, like wells fargo have terrible rates for investment properties compared to some small local lenders. I was asking for recommendations.