Myers BestRate.com

Explanations of BestRate's policies are given below.

Term   Explanation of term

Points Points quoted shall include discount and origination points.

Fees Fees quoted include all broker and/or lender fees as well as appraisal and credit report fees. Fees quoted do not include fees charge by the third parties including title companies, closing agents, inspection companies, home owners association, insurance companies, etc.

APR APRs are calculated based on a conforming loan amount of $240,000, or Jumbo loan amount of $480,000. Points/fees/rates may vary for different loan amounts.

Rates Rates are valid for purchase and rate & term refinance transactions. Rates may differ for cash-out refinance transactions.

BestRate.com enforces strict policies of honesty and integrity for lenders/brokers who post rates. Any company engaging in "lowballing" or "bait-and-switch" tactics will be put on probation. If that company continues to disregard BestRate.com policies, they will be permanently removed from the site.

BestRate.com does not endorse any listed lender/broker and does not make any guarantee, explicit or implied, as to the accuracy of the information presented by and lender/broker.

In order to confirm any rates/fees which come into question, all listed lenders/brokers agree to provide BestRate.com with their current wholesale rate sheets upon request. BestRate.com guarantees that this information will be kept in strict confidence.

The explanation of the terminology used in the search output on BestRate.com is given below.

Term   Explanation of term

  Lender The name of the mortgage company offering this rate. The mortgage company could be a bank, a S&L, a mortgage banker, a mortgage broker, or a consumer finance company.

  Rate The note rate. This is what the monthly payments are based on.
BestRate rates are valid for purchase and rate & term refinance transactions. Rates may differ for cash-out refinance transactions.

  Points Points are up-front interest you pay to reduce the interest rate. 1 point is 1% of the loan amount. On a $100,000 loan, 1 point is $1,000. BestRate lets you search for lenders and brokers depending on how many points you want to pay.
BestRate points quoted include both discount and origination points.

  APR APR is an acronym for annual percentage rate. The APR is designed to measure the effective or actual cost of a loan over its life. APRs were designed to help consumers compare loans among lenders / brokers. Different lenders and brokers include different fees and use different formulas when computing APRs, so do not compare loans solely on the basis of APRs.
BestRate APRs are calculated based on a conforming loan amount of $240,000, or Jumbo loan amount of $480,000. Points/fees/rates may vary for different loan amounts.

  Loan Fees Transaction fees originate from many different sources. Two general categories of fees are 1) Loan (lender/broker) and 2) third party. Loan fees include points, processing, underwriting, appraisal, document preparation, administration, credit, flood certification, tax service, etc. Third party fees include title, escrow, closing agent, attorney, recording, notary, etc. Third party fees tend to be less variable compared to loan fees. When comparing lenders or brokers it is important to compare loan fees, since third party fees will be relatively constant.
BestRate Fees quoted include all broker and/or lender fees as well as appraisal and credit report fees. Fees quoted do not include fees charge by the third parties including title companies, closing agents, inspection companies, home owners association, insurance companies, etc.

  Lock The number of days for which the specified rate can be locked.
The BestRate minimum lock period allowed is 30 days. If you do not close your loan within the lock period, your rate may change. Lenders / Brokers have different rate-lock and re-lock policies. If your lock expires, lenders or brokers typically charge 1) an extension fee, or 2) the higher of the previously locked or new market rate.

  Last Update The last time the BestRate rate was updated for a particular lender or broker.

  Details Additional details on the loan program.

BestRate Policies
BestRate.com enforces strict policies of honesty and integrity for lenders/brokers who post rates. Any company engaging in "lowballing" or "bait-and-switch" tactics will be put on probation. If that company continues to disregard BestRate.com policies, they will be permanently removed from the site. Complaints about lenders/brokers should be forwarded to our research department.

BestRate.com does not endorse any listed lender/broker and does not make any guarantee, explicit or implied, as to the accuracy of the information presented by and lender/broker.

Tips on using BestRate
BestRate offers you a quick and easy way to find the Best Mortgage Rate on the Internet. Shopping for mortgage rates can be fun when you follow these simple steps:

Go to the state in which the property you are buying or refinancing is located. Most states require that mortgage lenders and brokers be licensed by the state in order to close loans in the state. You should only do business with a lender or broker that is licensed by the state in which your property is located.
Select the loan program you want.
Select how many points you are willing to pay.
Click the "Search" Button.
Check out the different lenders' rates.

How do you find the Best Rate?

Use the same note rate when comparing lenders/brokers.
Determine the total fees (points plus fees) associated with that rate and loan program. The lender/broker with the lowest total fees is the cheapest.
Rates are subject to change without notice. When you find a rate you want, you must call the lender or broker to lock it. Lenders and brokers have different rate-lock policies. Thoroughly discuss with the lender or broker what's required of you in order to lock the loan. Get the rate lock in writing.
Make sure that the rate lock is long enough, so that you can close the transaction before the lock expires.
Use a spreadsheet to carefully analyze the figures! Then use the lender/broker with which you feel most comfortable!

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P o w e r e d B y

Explanations of BestRate's policies are given below.
Term	Explanation of term
Points	Points quoted shall include discount and origination points.
Fees	Fees quoted include all broker and/or lender fees as well as appraisal and credit report fees. Fees quoted do not include fees charge by the third parties including title companies, closing agents, inspection companies, home owners association, insurance companies, etc.
APR	APRs are calculated based on a conforming loan amount of $240,000, or Jumbo loan amount of $480,000. Points/fees/rates may vary for different loan amounts.
Rates	Rates are valid for purchase and rate & term refinance transactions. Rates may differ for cash-out refinance transactions.
BestRate.com enforces strict policies of honesty and integrity for lenders/brokers who post rates. Any company engaging in "lowballing" or "bait-and-switch" tactics will be put on probation. If that company continues to disregard BestRate.com policies, they will be permanently removed from the site. BestRate.com does not endorse any listed lender/broker and does not make any guarantee, explicit or implied, as to the accuracy of the information presented by and lender/broker. In order to confirm any rates/fees which come into question, all listed lenders/brokers agree to provide BestRate.com with their current wholesale rate sheets upon request. BestRate.com guarantees that this information will be kept in strict confidence.

The explanation of the terminology used in the search output on BestRate.com is given below.
Term	Explanation of term
Lender	The name of the mortgage company offering this rate. The mortgage company could be a bank, a S&L, a mortgage banker, a mortgage broker, or a consumer finance company.
Rate	The note rate. This is what the monthly payments are based on. BestRate rates are valid for purchase and rate & term refinance transactions. Rates may differ for cash-out refinance transactions.
Points	Points are up-front interest you pay to reduce the interest rate. 1 point is 1% of the loan amount. On a $100,000 loan, 1 point is $1,000. BestRate lets you search for lenders and brokers depending on how many points you want to pay. BestRate points quoted include both discount and origination points.
APR	APR is an acronym for annual percentage rate. The APR is designed to measure the effective or actual cost of a loan over its life. APRs were designed to help consumers compare loans among lenders / brokers. Different lenders and brokers include different fees and use different formulas when computing APRs, so do not compare loans solely on the basis of APRs. BestRate APRs are calculated based on a conforming loan amount of $240,000, or Jumbo loan amount of $480,000. Points/fees/rates may vary for different loan amounts.
Loan Fees	Transaction fees originate from many different sources. Two general categories of fees are 1) Loan (lender/broker) and 2) third party. Loan fees include points, processing, underwriting, appraisal, document preparation, administration, credit, flood certification, tax service, etc. Third party fees include title, escrow, closing agent, attorney, recording, notary, etc. Third party fees tend to be less variable compared to loan fees. When comparing lenders or brokers it is important to compare loan fees, since third party fees will be relatively constant. BestRate Fees quoted include all broker and/or lender fees as well as appraisal and credit report fees. Fees quoted do not include fees charge by the third parties including title companies, closing agents, inspection companies, home owners association, insurance companies, etc.
Lock	The number of days for which the specified rate can be locked. The BestRate minimum lock period allowed is 30 days. If you do not close your loan within the lock period, your rate may change. Lenders / Brokers have different rate-lock and re-lock policies. If your lock expires, lenders or brokers typically charge 1) an extension fee, or 2) the higher of the previously locked or new market rate.
Last Update	The last time the BestRate rate was updated for a particular lender or broker.
Details	Additional details on the loan program.
BestRate Policies BestRate.com enforces strict policies of honesty and integrity for lenders/brokers who post rates. Any company engaging in "lowballing" or "bait-and-switch" tactics will be put on probation. If that company continues to disregard BestRate.com policies, they will be permanently removed from the site. Complaints about lenders/brokers should be forwarded to our research department. BestRate.com does not endorse any listed lender/broker and does not make any guarantee, explicit or implied, as to the accuracy of the information presented by and lender/broker. Tips on using BestRate BestRate offers you a quick and easy way to find the Best Mortgage Rate on the Internet. Shopping for mortgage rates can be fun when you follow these simple steps: Go to the state in which the property you are buying or refinancing is located. Most states require that mortgage lenders and brokers be licensed by the state in order to close loans in the state. You should only do business with a lender or broker that is licensed by the state in which your property is located. Select the loan program you want. Select how many points you are willing to pay. Click the "Search" Button. Check out the different lenders' rates. How do you find the Best Rate? Use the same note rate when comparing lenders/brokers. Determine the total fees (points plus fees) associated with that rate and loan program. The lender/broker with the lowest total fees is the cheapest. Rates are subject to change without notice. When you find a rate you want, you must call the lender or broker to lock it. Lenders and brokers have different rate-lock policies. Thoroughly discuss with the lender or broker what's required of you in order to lock the loan. Get the rate lock in writing. Make sure that the rate lock is long enough, so that you can close the transaction before the lock expires. Use a spreadsheet to carefully analyze the figures! Then use the lender/broker with which you feel most comfortable!