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Getting a Low Interest Rate

Shopping for a mortgage loan? Joe Wagner will be glad to answer your questions about our mortgage offerings! Call Joe Wagner at 612-327-4544. Ready to begin? Apply Here.

Locking It In

A rate "lock" or "commitment" is a lender's promise to set a particular interest rate and a certain number of points for you for a specified period during your application process. This prevents you from working through your entire application process and finding out at the end that your interest rate has gotten higher.

Rate lock periods can be various lengths of time, between 15 to 60 days, with the longer ones typically costing more. You can get a longer period for your lock, but in making this choice, will most likely have a higher interest rate than you would have with a shorter period

More Ways to Get a Great Interest Rate

In addition to opting for a shorter rate lock period, there are several ways you are able to get the lowest rate. The larger down payment you pay, the smaller the interest rate will be, because you will be starting with more equity. You can pay points to improve your rate over the term of the loan, meaning you pay more initially. For many people, this makes financial sense..

 

Joe Wagner can answer questions about rate lock periods and many others. Give Joe Wagner a call at 612-327-4544.





Serving all of Minnesota.
Anoka MN, Apple Valley MN, Bemidji MN, Boundary Waters MN, Brainerd MN, Bloomington MN, Coon Rapids MN, Crow Wing County MN, Dakota County MN, Bloomington MN, Eden Prairie MN, Gull Lake MN, Hennepin County MN, Hopkins MN, Lakeville MN, Lake Mille Lacs MN, Lake Minnetonka MN, Lake Nokomis MN, Lake Pepin MN, Lake Vermilion MN, Lake Winnibigoshish MN, Leech Lake MN, Maplewood MN, Mendota Heights MN, Mound MN, Orono MN, Red Lake MN, Richfield MN, Rosemount MN, Savage MN, St Louis Park MN, White Bear Lake MN, Wright County MN.

Basic Pre-Approval

Get the Best Mortgage Rate! Tell us a little about your current needs and we can use that information to match you with just the right loan.

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Today's Rates

Mtg Loan Rate APR
30-yr Fixed 3.9% 4.03%
15-yr Fixed 3.17% 3.34%
1-yr Adj 2.74% 3.4%
* national averages

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