What's the rate? I commonly get asked this question in the supermarket. While rates differ between credit, down payment, and income documentation, ""the rate" generally is understood to be a 20% down payment, conforming loan (under $417,000), with full income documentation.
A borrower looking to buy a $500,000 home, in San Diego, with a down payment of $100,000, can expect to receive a 4.875% rate, with a 1% origination fee, today.
