How to read a mortgage rate sheet – Video tutorial Part 2
And… here is part two of the “How to Read a Mortgage Rate Sheet” video tutorial. This video starts exactly where the previous video left off.
If for somereason you cannot view the video, place a comment on this post and I’ll play a little “tech support”
Enjoy…
As you can see… a mortgage rate sheet is actually pretty easy to read. The most difficult part that I found when first learning how to read the rate sheet was how to use the price adjustments correctly to find the correct interest rate.
Truly, I didn’t create these tutorials to cheat mortgage brokers out of commissions or to reveal a “trade secret”. The main reason I made them is because it helps to demistify the mortgage rate game and show people that there actually is a series of rules, guidelines, and criteria that make up each loan program.
Many borrowers think that the lender is gouging them because they have a 660 credit score and their friend who has the same credit score got a better loan. As the tutorial shows, there is a lot more to pricing a loan than just credit score. And… for every little aspect that varies from the conforming guidelines… there is a corresponding “hit” to the rate that adjusts for the higher risk of the loan.
Borrowers as a whole don’t understand all of the different parts that can drive their loan price up. I hope these videos gave a little glimpse into the head of a mortgage broker and how the rates are computed.
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Hey, my name is Trevor and I'm the founder of The REI Brain and a real estate investor since the age of 21. Right now, my focus in real estate investing is multi-family income properties and I have plans on moving more into the commercial real estate investment world in 2008 and beyond. 
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