Looking for the best rate?

You may have been using the Internet to search for a mortgage loan. You may notice that everybody is promising the lowest rate. Many sites have tables full of rate information followed by pages of fine print.

At Merit Funding, Inc , we like to find out more about you so we can quote you a mortgage interest rate you're qualified to get. An accurate mortgage quote takes into account these basic factors:

Percentage of equity in property
Income
Credit History
Loan type
Loan amount

When all of these factors are considered, a personalized quote can accurately be provided to you. Quoting a rate prior to knowing this is almost fruitless.

Merit Funding, Inc takes pride in delivering a low interest rate after taking your unique factors into account. I think you'll find that we offer among the lowest rates available for any given loan scenario.

Calling a lender and asking, "What's your rate?" is similar to calling an insurance agent and requesting today's price for auto insurance. There are so many other factors involved that the agent needs to ask the right questions before assessing the risk in insuring you and your vehicle. Your age, driving record, average miles you drive each day -- all play an important part in determining how much your insurance will cost.

Mortgages rates work the same way. Any mortgage representative can talk about a low mortgage rate, but not everybody will qualify for a loan at the lowest rate because there are many stipulations that go along with it. The 3 C's are an important step in qualifying for a loan: Credit, Capacity & Collateral.

In the end, it's about building trust and our commitment to customer service. That's why we won't simply quote you the lowest rate, but we'll talk to you about your needs and your financial situation to find you the best rate you'll qualify for. To see how competitive our current mortgage rates are, call (phone) or fill out a rate request today.

A better way to find a rate that you will qualify for is to assess your credit rating. Below are some general criteria that are used within the industry to determine a borrower's credit grade. Even if you've fallen behind on your bills, we can help you get back on track and re-establish your credit.

Grade	Description	Criteria
A	Very Good	No late mortgage payment in the last 12 months. Major credit history is excellent. Prior bankruptcy/foreclosure discharged or settled prior to last 5 years.
A-	Good	No more than two 30-day late mortgage payments in the last 12 months. Major credit history is very good. Prior bankruptcy/foreclosure discharged or settled prior to last 3 years.
B	Fair	Two or more 30-day late mortgage payments in the last 12 months. Major credit history may include one 60-day late payment in the last year. Prior bankruptcy/foreclosure discharged or settled prior to last 3 years.
C	Needs Improvement	No more than 60 days late on a mortgage payment in last 12 months. Major credit history may include up to a 90-day late payment in the last year. Prior bankruptcy/foreclosure discharged or settled prior to last 3 years.
D	Needs Improvement	No more than one 90-day late mortgage payment in last 12 months. Major credit history may include poor payment history. Not currently in bankruptcy.