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A: Why use a Connecticut Mortgage Broker?
Connecticut Mortgage brokers.

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Refinance your Connecticut Home Mortgage Loan

 

3. Mortgage Process CT Mortgage Rates

Why don’t you see CT mortgage interest rates quoted on this Acorn Home Mortgage Site when it seems like everyone has a low CT mortgage rate plastered across their ads or TV commercials? We shun the practice because, candidly, they amount to a “bait-and-switch” tactic.

That is, there’s a really low CT mortgage rate shown in the ad. Yet, what they don’t tell you is that few people actually get that CT mortgage rate at the closing. And, in the TV commercials, there’s typically a lot of small print which is too small and goes by too quickly to read. If you could read it you would find out some of the following information.


How to Shop for CT Mortgage Rates

Selecting the right CT mortgage provider can offer you initial savings as well as longer term over the life of your Connecticut home loan. The best deal is always the CT mortgage company with the soundest CT mortgage advice, lowest CT mortgage rate, plus a smooth processing and closing. Unfortunately, most people define the best CT mortgage provider as the company with the lowest advertised CT mortgage rate.

Definition of CT Mortgage Rate Options

A locked rate is your CT mortgage rate to close on your new home and is the CT mortgage rate for the life of the Connecticut home loan. After defining these lock options we will discuss ways to reduce your CT mortgage rate, and in return saving you money.

  • A floating CT mortgage rate offers you no protection and is thus the most risky of all CT mortgage rate options. The CT mortgage rate adjusts daily depending on the market. Typically, if you just call a CT mortgage company out of the blue, and ask for their CT mortgage rates, they with quote you their floating CT mortgage rate. If someone recommends that you float your CT mortgage rate, you should question their CT mortgage advice.


  • A locked CT mortgage rate with a float down option allows you to secure a rate with the opportunity to lock into the lower CT mortgage rate (if rates go down). Most lenders will require you to call and check CT mortgage rates as frequent as you like to check rates and see if they have dropped. This option normally only gives you one opportunity to lock your CT mortgage rate.


  • A straight lock CT mortgage rate is when the rate will not change regardless of market movement. Remember when you lock your CT mortgage rate this is your rate for the duration of your Connecticut home loan.




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