Zillow Advice: Mortgage Rates - lender said the rates on zillow are just teaser rates & are not accurate? http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ Zillow Advice | Zillow Real Estate It's not necessarily that ... http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ It's not necessarily that they are teaser rates but the APR doesn't tell you the dollar amount cost of the <a href="http://www.zillow.com/mortgage/">loan</a>. If they advertise it that rate is probably there but it also may cost a lot more as far as dollar amount then you expect after seeing a low APR associated with the low rate. Tue, 23 Jun 2009 07:08:00 GMT http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ 2009-06-23T07:08:00Z Request VA rate quotes, for ... http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ Request VA rate quotes, for your <a href="http://www.zillow.com/mortgage/">loan</a> scenario, on Zillow. Mon, 22 Jun 2009 04:36:00 GMT http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ 2009-06-22T04:36:00Z You are going to be consistently ... http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ You are going to be consistently frustrated if you shop/chase rates. As many have said, the current market volatility means that rates you get in the morning may well change by the afternoon. Once you "find a rate and then shop it", you will likely find that the rate is gone when you go back to lock...and that assumes that you can fill out the required paperwork so that the <a href="http://www.zillow.com/directory/lenders/">lender</a> has a reasonable expectation of what you qualify for before rates change "yet again".<br/><br/>You will be better served by shopping the person, not the rates. Talk to several and compare notes about what they say - and about how upfront and helpful they are when you're "just shopping".<br/><br/>Once you find a person you have confidence in, then work with that person to determine what&nbsp;rate you need to make things work. They will know your personal situation and goals, and can work to secure you the rate you need. Sat, 20 Jun 2009 20:41:00 GMT http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ 2009-06-20T20:41:00Z "VA rates are typically a ... http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ <em>"VA rates are typically a tad higher because certain "non-allowable" costs have to be absorbed by the lender."</em><br/><br/>This is not the case with all lenders,&nbsp;but may be with those that rely on <a href="http://www.zillow.com/directory/lenders/">lender</a> fees as income... find a direct VA lender and you will be okay.<br/><br/>And, the rates you see on Zillow can have discount points in them, which lower the rate,&nbsp; but increase the costs......so, look for those rates and points that meet your needs.<br/><br/>There are a few top <a href="http://www.zillow.com/directory/lenders/">lenders</a> on Zillow that may be able to help you or fill out a Zillow request. Sat, 20 Jun 2009 04:20:00 GMT http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ 2009-06-20T04:20:00Z VA rates are typically a ... http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ VA rates are typically a tad higher because certain "non-allowable" costs have to be absorbed by the lender.&nbsp; Still, I think you can confidently shop for a VA <a href="http://www.zillow.com/mortgage/">home loan</a> on Zillow <a href="http://www.zillow.com/mortgage/">Mortgage</a> Marketplace.&nbsp; ZMM isn't "just a website"; it's a real-time mortgage marketplace<br/><br/>Submit a request, get some quotes, show them to your local <a href="http://www.zillow.com/directory/lenders/">lender</a> and make him compete. Sat, 20 Jun 2009 03:44:00 GMT http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ 2009-06-20T03:44:00Z It depends who the lender ... http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ It depends who the <a href="http://www.zillow.com/directory/lenders/">lender</a> is.<br/>Your best bet would be to put in a <a href="http://www.zillow.com/mortgage/">loan</a> request on Zillow. Fri, 19 Jun 2009 18:13:00 GMT http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ 2009-06-19T18:13:00Z bf,Get a rate quote from ... http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ bf,<br/><br/>Get a rate quote from your bank, any and all <a href="http://www.zillow.com/directory/lenders/">Lenders</a> to compete:<br/><br/>1) On the same day with same rate (compare costs (line 800 items))<br/>2) On the same day with same points (compare teh rate)<br/><br/>Make sure you trim out as many confusing variables as you can.&nbsp; Your statements did not mention points or fees either.&nbsp; The good news:&nbsp; Your bank is not robbing you.. The bad news:&nbsp; They are quarantined from all other lenders and their margins and simply usually have 1 VA source and they are "told" what to mark it up.&nbsp; Private <a href="http://www.zillow.com/mortgage-glossary/Origination/">origination</a> firms can make up their own margins higher or lower ( you are the judge).&nbsp; Finally, find a VA LO in your state that offeres free solid advice on these help threads and call him/her.&nbsp; They will help and are straight shooters.&nbsp; Good luck. Fri, 19 Jun 2009 02:20:00 GMT http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ 2009-06-19T02:20:00Z When dealing with website, ... http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ When dealing with website, such as zillow.com.&nbsp; You have to be prepared for people to send you low and unrealistic quotes.&nbsp; <br/><br/>Is the rate way lower than all of the other quotes?&nbsp; If so, it's probably not accurate.&nbsp; <br/><br/>Another cause may be the volatility of the market. For example we may be at 5% in the morning and at 5.5% by the afternoon.&nbsp; Your lender's statement regarding the rate increase is most likely true.&nbsp; We had about .25% increase in rates today. Fri, 19 Jun 2009 02:07:00 GMT http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ 2009-06-19T02:07:00Z The market is extremely volitile ... http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ The market is extremely volitile and he is not lieing about the rate increasing.&nbsp; However, if you post a <a href="http://www.zillow.com/mortgage/">loan</a> request the quotes you will get will include some low ball quotes but the majority of quotes are real rates. Fri, 19 Jun 2009 00:35:00 GMT http://www.zillow.com/advice-thread/lender-said-the-rates-on-zillow-are-just-teaser-rates-are-not-accurate/247425/ 2009-06-19T00:35:00Z