We had two nearly identical borrowers get rate quotes that were 1/2% different on the same day last week.
The two borrowers were nearly identical for all factors, including loan amount (around $800,000); credit score (800s); down payment (25%); property use (owner-occupied); property type (SFR); and type of loan (30-Year Fixed).
There was one huge difference though: reserves.
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To learn more about the topics discussed in this blog or get more info about JVM's mortgage services, contact our team by phone at (855) 855-4491 or email us at jvmteam@jvmlending.com
