Your interest rate will be factored by current market conditions, your credit score and credit history, your property specific characteristics, and your debt to income ratios.
Yes. If you provide accurate information at the time of application, the rate quote you receive will be available to you.
Keep in mind that rates change constantly, so the sooner you apply the sooner you can lock in your rate.
When you get a rate quote, the monthly payment shown includes the principal and interest of the loan. You will also need to pay taxes and insurance, which vary based on location and other factors.
Points represent a percentage of your loan amount (1 point = 1%). You might choose to pay points at closing in exchange for a lower interest rate on the loan. In other words, by pre-paying some interest, you are “buying down” your rate.
Conversely, you might choose to receive a credit (or rebate) at closing to help cover other costs and fees. This would correspond to a higher interest rate on the loan.