Rate Sheet is a document provided by the lender or wholesale mortgage lender to mortgage brokers, outlining the available interest rates, loan programs, and pricing adjustments.
A rate sheet is a document that is typically provided by a lender or wholesale mortgage lender to mortgage brokers. It outlines the available interest rates for various loan programs and provides information on pricing adjustments.
A rate sheet is an important tool for mortgage brokers as it helps them compare and select the most suitable loan options for their clients. It typically includes details such as the current interest rates for different loan types (e.g., fixed-rate, adjustable-rate), loan terms (e.g., 15 years, 30 years), and any applicable pricing adjustments based on factors like the borrower’s credit score, loan-to-value ratio, or property type.
The rate sheet serves as a reference guide for mortgage brokers, allowing them to see the different interest rates and pricing adjustments available for different scenarios. It helps them determine the pricing and loan programs they can offer to their clients and enables them to provide accurate and competitive mortgage options.
It’s worth noting that rate sheets can vary among lenders and may be updated frequently to reflect changes in market conditions and loan program availability. Mortgage brokers typically receive rate sheets regularly from lenders to stay informed about the current rates and loan program offerings.