What is the interest rate for high credit scores and the differences in rates?

If one is prime rate. Credit score above 780. Are the final interest rates they quote you lower than what is advertise on their website? I am considering using a mortgage broker however their rates seem higher than the bank + the cost seems higher. If the rate is what they advertise, I might just go to the bank directly first and save my time. The mortgage broker seems to be on top of things and most likely have better info on closing etc. which is their only selling point but if the interest rate is higher than the competitor I am reluctant to go with it since they will hit my credit score if I apply. Simply put money is money a little .25% can equal 60K over the life of the loan. Something that could sit in investment generating returns for me.





In general what is the difference in the interest rate for prime/ A credit scores? Are the advertised rates using prime rates or just average rates?





Thanks in advance|||I work at a mortgage broker shop, and I believe that we can offer better rates to certain consumers then banks can. Sometimes they can offer better then we can. Also, watch the total closing costs as well. I know we get wholesale rates from lenders and offer these to the consumers and just add a small fee to it, but if you were to go to these lenders yourself they would offer you RETAIL rates. This is how my shop works we try to do as much volume as possible and work mostly off of referrals so we try to beat any deal out there, but different places go by different rules. The prime changes from day to day as well so keep that in mind when shopping.





Do not let a lot of people pull your credit cause it could hurt you if you have excessive pulls, maybe only like 5 people in a months time or so.





Good Luck!!!!|||you can shop around, the prime rate is the rate of interest that the federal reserve dictates to fdic insured banks, the banks mark that up and compete within that realm. You have a good credit score so you should be able to get an interest rate that is a couple point over prime. Usually what is advertised is their lowest rate for someone with a near perfect credit score.