If you are in the process of refinancing your home loan and want the best mortgage rates there are several things you need to know about Florida mortgage rate quotes. The quotes you find on the Internet and from your mortgage broker include markup that could raise your payment by hundreds of dollars. Here are several tips to help you get the best rate when refinancing without paying too much to the mortgage company or broker.
Pitfalls of Yield Spread Premium
When your mortgage broker locks and closes your home loan with higher than market interest rates the spread created is called Yield Spread Premium. The broker inflates your mortgage rate to get this commission from the lender at your expense.
Yield Spread Premium in Action
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