Internet Rate Quotes
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The Truth About On Line Rate Quotes

Every rate quote you’ve seen on line is an estimate based on assumptions.  See below for
one popular competitor’s assumptions copied directly from their website.

30-Year Fixed-Rate Mortgage: The payment on a $200,000 30-year Fixed-Rate Loan at
4.125% and 75.00% loan-to-value (LTV) is $969.3 with 2 points due at closing. The Annual
Percentage Rate (APR) is 4.391%. Payment does not include taxes and insurance premiums.
The actual payment amount will be greater. Some state and county maximum loan amount
restrictions may apply.

15-Year Fixed-Rate Mortgage: The payment on a $200,000 15-year Fixed-Rate Loan at
3.50% and 75.00% loan-to-value (LTV) is $1429.77 with 2.25 points due at closing. The
Annual Percentage Rate (APR) is 3.998%. Payment does not include taxes and insurance
premiums. The actual payment amount will be greater. Some state and county maximum
loan amount restrictions may apply.

So if your loan amount is greater than 75% of the value of your home for a purchase or
refinance and it doesn’t make sense to pay 2 or more points for your rate because you
may not remain in that home or mortgage long enough to recover that cost, you’re going
to get a different rate quote based on your plan.  A rate that is probably much higher!

Your rate quote depends on many factors.  Before someone can give you an accurate
quote, we need to know more about you and your plan.

You have several options available to provide the information necessary for me to give
you an accurate rate quote based on your plan.  Just click on the image below and pick
the option that best suits your needs.
First Federal Bank is an FDIC insured nationally chartered mutual savings bank approved lender.  NMLS# 408902.
We are an approved VA and FHA Lender. VA Lender: #6353290000 | FHA Lender: #7478000079
First Federal Bank, 2450 Atlanta Hwy Suite 1103 Cumming, GA  30040
Bill Brown
NMLS# 1460898
678-679-6057
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