{"id":6076,"date":"2009-07-06T12:57:14","date_gmt":"2009-07-06T18:57:14","guid":{"rendered":"http:\/\/www.myfhamortgageblog.com\/?p=6076"},"modified":"2009-07-06T12:57:14","modified_gmt":"2009-07-06T18:57:14","slug":"understanding-mortgage-rates-texas","status":"publish","type":"post","link":"https:\/\/dev203k.orbitwebx.com\/dev203k\/understanding-mortgage-rates-texas\/","title":{"rendered":"Understanding Mortgage Rates &#8211; Texas"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-21023 alignleft\" title=\"Understanding mortgage rates\" src=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2013\/12\/iStock_000008857422_ExtraSmall.jpg\" alt=\"\" width=\"292\" height=\"411\" srcset=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2013\/12\/iStock_000008857422_ExtraSmall.jpg 292w, https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2013\/12\/iStock_000008857422_ExtraSmall-213x300.jpg 213w\" sizes=\"auto, (max-width: 292px) 100vw, 292px\" \/>As a consumer, it&#8217;s important to understand that mortgage rates change with the movement in the bond market, specifically the value of mortgage-backed securities.\u00a0 These changes happen daily and sometimes multiple times a day.\u00a0 Rates will vary from program to program.\u00a0 For example, rates on <a title=\"USDA\" href=\"http:\/\/www.myfhamortgageblog.com\/2009\/06\/usda-home-loan-details-texas\/\" target=\"_blank\" rel=\"noopener\">USDA loans <\/a>are a bit higher than <a title=\"FHA\" href=\"http:\/\/www.myfhamortgageblog.com\/2009\/06\/usda-home-loan-details-texas\/\" target=\"_blank\" rel=\"noopener\">FHA loans <\/a>because USDA allows for <a title=\"USDA 100% Loan\" href=\"http:\/\/www.myfhamortgageblog.com\/2009\/06\/usda-100-home-loans-texas\/\" target=\"_blank\" rel=\"noopener\">100% financing<\/a>.<\/p>\n<p>Since rates are so volatile it&#8217;s also important to understand the difference between a rate quote and a rate lock: A rate quote is not guaranteed until it&#8217;s locked.\u00a0 The rate lock is tied to the property address so it&#8217;s important to have your contract in hand when requesting a rate lock.\u00a0 Once the rate is locked you typically have 30-45 days to close your loan.<\/p>\n<p><strong><em>Why can&#8217;t a lender simply quote a rate?<\/em><\/strong>\u00a0 There are many factors that determine how a mortgage loan is priced.\u00a0 The loan program, term of the loan, and the amount being borrowed determine the &#8220;base&#8221; rate.\u00a0 From there an applicant&#8217;s credit score, income, down payment, etc are evaluated to determine the strength of the loan.\u00a0 <span style=\"color: #ff0000;\"><strong>No two loans are alike which is why it&#8217;s important to be complete with your application and be sure your lender has all of their questions answered to the best of your ability.<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><strong>For more information or to <a title=\"apply now\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/application\/\">apply<\/a> please call <a title=\"About Leesa Sandoval\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/about\/\">Leesa Sandoval <\/a>at 972-725-9110\u00a0 <a href=\"http:\/\/www.leesasandoval.com\">www.leesasandoval.com<\/a><\/strong><\/p>\n<p style=\"text-align: center;\">\n","protected":false},"excerpt":{"rendered":"<p>As a consumer, it&#8217;s important to understand that mortgage rates change with the movement in the bond market, specifically the value of mortgage-backed securities.  These changes happen daily and sometimes multiple times a day.  Rates will vary from program to program.  For example, rates on USDA loans are a bit higher than FHA loans because USDA allows for 100% financing.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[58],"tags":[84,82],"class_list":["post-6076","post","type-post","status-publish","format-standard","hentry","category-mortgage","tag-mortgage-rates","tag-usda"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Understanding Mortgage Rates - Texas<\/title>\n<meta name=\"description\" content=\"It&#039;s important to understand that mortgage rates change in Texas with the movement in the bond market, specifically the value of mortgage-backed securities.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/understanding-mortgage-rates-texas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Understanding Mortgage Rates - Texas\" \/>\n<meta property=\"og:description\" content=\"It&#039;s important to understand that mortgage rates change in Texas with the movement in the bond market, specifically the value of mortgage-backed securities.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/understanding-mortgage-rates-texas\/\" \/>\n<meta property=\"og:site_name\" content=\"203krehabnow\" \/>\n<meta property=\"article:published_time\" content=\"2009-07-06T18:57:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2013\/12\/iStock_000008857422_ExtraSmall.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"292\" \/>\n\t<meta property=\"og:image:height\" content=\"411\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Leesa Sandoval\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Leesa Sandoval\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/understanding-mortgage-rates-texas\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/understanding-mortgage-rates-texas\\\/\"},\"author\":{\"name\":\"Leesa Sandoval\",\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/#\\\/schema\\\/person\\\/077ba4d7228c4608636fa8a7169e57ed\"},\"headline\":\"Understanding Mortgage Rates &#8211; 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