What is a rate sheet?

What is a rate sheet?

Ron Goodlin (Mortgage Banker and Broker, The Goodlin Group) gives expert video advice on: When do I apply for a mortgage loan?; Who can help me apply for a mortgage loan?; What is collateral? and more...

I see a lot of rate sheets on a daily basis because I'm a mortgage broker, and therefore, of course, I go out to all the lending institutions that are out there. In its simplest terms, a rate sheet is the lending firms' pricing for that particular day. They have all their different types of mortgage programmes that are on there, their risk add-ons. These actual rate sheets change on a daily basis. It's just like the stock market. They change every day.