Real Estate - Real Estate Investment

We have all heard those crazy low Wisconsin mortgage rates advertised o radio and television and many of us probably thought about calling to refinance with that low rate. However before you jump up and call your mortgage company there are some things you need to know about getting low mortgage rates and how they are actually determined.

First off the rates that are advertised normally are for no cash out refinances, if you need to take cash out you can figure in a rate that will be one quarter to one half higher. This is due to wholesale pricing adjustments for cash out refinances and your mortgage broker has no control over this price increase.

How much equity you borrow also affects the interest rate significantly. Many of the ads you hear for very low rates are for borrowers who will be borrowing no more then 80% of their properties appraised values.

Your credit score is also a factor in the teaser rates that are advertised by so many companies. The lowest credit score most of these ads are assuming you have is a 720. Come in with a credit score lower then that and you will probably not get the loan at the advertised rate.