Check current mortgage rates below, then contact Chris Nieberlein for a personalized quote based on your loan program, credit profile and down payment. Rates change daily and are shown for informational purposes only.
The tool above shows market-wide rate data supplied by Optimal Blue, a mortgage technology provider. It is a general view of where the market is, not a quote from Bay Capital. Market rates change often, sometimes more than once a day, and a published number is a starting point rather than an offer. The rate you are quoted depends on your credit score, your down payment or equity, the loan type, whether the home is a primary residence, a second home or an investment property, the loan amount and how long you want the rate locked.
The interest rate determines your monthly principal and interest payment. The annual percentage rate (APR) is higher or equal because it also folds in certain fees and costs, so it is a better basis for comparing loan offers side by side. Always compare offers using the same loan amount, loan type and term, and ask whether points or credits are included in each quote.
Principal and interest are only part of it. Most monthly payments also include property taxes and homeowners insurance, usually collected in an escrow account, and mortgage insurance if your down payment is under 20% on a conventional loan, or if you use an FHA loan. HOA dues are paid separately. Use the affordability calculator to see how a rate changes what you can borrow.
A rate lock holds your quoted rate for a set period while your loan is processed, so a rise in the market during that time does not change your terms. Locks have an expiration date, and the right time to lock depends on how close you are to a signed contract. Getting pre-approved is the first step toward a quote that applies to you, and Chris can walk you through the options.
Market data is provided by a third party for general information only, is subject to change without notice and is not a rate quote, a loan offer or a commitment to lend. Your rate and APR will depend on your credit, loan details and property. Chris Nieberlein NMLS #313519, Bay Capital Mortgage Corp. NMLS #39610.