Mortgage Rate Quotes

Empire of America has designed a unique software platform that provides borrowers with Instant Rate Quotes (IRQ) without requesting any personal information. All that is needed to get accurate rate quotations is to input a few data points of information and within seconds you will be presented with accurate interest rates, points, and fees (including 3rd party costs). Our mortgage bankers are always available to assist you with Empire’s instant mortgage rate quotes.

Rates and Prices

Mortgage rates and prices are dynamic, they change several times a day based on fluctuation in the markets caused by; US Treasuries, Mortgage-Backed Securities, Federal Government intervention, and even worldwide economic conditions. Rates themselves do not move, but the price to acquire them certainly does. A betterment in rate pricing simply means that a specific rate is cheaper to acquire, whereas a worsening in pricing means higher costs to acquire the same rate. Note: the rate lock term also influences pricing, a 15-day rate lock is better pricing than a 30- or 45-day rate lock. The longer the commitment the higher the price.

Property Type

Property type refers to the type of dwelling that is being used as collateral for the mortgage loan. Single Family Homes, Townhomes, Condos and 1-4 Multi-Unit properties are all acceptable forms of collateral in residential mortgage lending. Pricing will vary by property type, and the loan to value of the mortgage request.

Lender Credit

Also known as Lender Rebate (erroneously), the Lender Credit is an amount of credit that a lender will offer to a borrower who elects to take a note rate that is priced slightly higher, the higher the rate, the higher the credit. In effect, the borrower is paying for the Lender Credit by taking a higher rate of interest and agreeing to a higher monthly payment for the term of the mortgage loan. The cash to close a transaction can be reduced or completely eliminated by the Lender Credit.


Occupancy refers to the status of the people living in the residence. If the property will be occupied by the borrower it is considered owner-occupied, if it is occupied by a family member and not rented it would be considered a Second Home, or if occupied by tenants who pay rent in exchange for the right to live in the home it would be considered an Investment Property. Occupancy does influence overall pricing of a mortgage loan.

Loan Purpose

The loan purpose is the reason why an applicant is applying for financing. The purpose of the loan influences the overall risk profile of the loan request, the higher the risk, the worse the pricing. For instance, purchase financing is considered lower risk, whereas some refinance and especially cash-out refinance transactions are considered higher risk. Lower credit scores <760 may also affect pricing. View Details screen in Empire’s Instant Rate Quotes provides an accurate breakdown of closing costs.

Loan Program

Loan programs refer to the type of loan terms taken out to finance, or refinance, residential property. Common mortgage loan programs include conventional fixed rate and variable rate mortgages, and government-insured loan programs such as FHA and VA loan products. Fixed rate loans have many loan terms to choose from such as; 30, 25, 20, 15 and 10 year fixed rate terms. Adjustable Rate Mortgages (ARMs) are 30 year fully amortized products that are fixed for a specific period of time such as 5-, 7-, or 10-year fixed rate terms and then become adjustable after the initial rate period.

Loan Amount

The loan amount is one of the main factors in determining what rate and loan programs are available to you. There are three (3) tiers of financing available in the mortgage marketplace; conforming loans are between $50,000 to a maximum of $548,250, super conforming loans are from $548,250 to a maximum of $822,375 (max amount determined by County), and jumbo programs from $548,250 to a maximum of $5,000,000. The very best pricing can be found in the conforming loan tier.

Closing Costs

Closing costs are the total costs of the transaction, from all sources. There are 2 basic sources of cost; 1) is the costs and fees (whatever they are labeled) that are charged by the lender, and 2) the costs and fees charged by all other 3rd party service providers in the transaction including, escrow, appraisers, title, notary etc.

Loan to Value (LTV)

An important factor in mortgage rate quotes is the proposed loan amount divided by the value of the property. The lower the LTV, the better the pricing. The very best pricing for conforming and super conforming loans is at a loan-to-value of less than 60% (loan/value). The higher the LTV, the higher the risk determination of the transaction and therefore the higher the pricing. If there is less than 20% equity in the transaction at closing, whether purchase or refinance, a private mortgage insurance (PMI) policy will be required adding an additional monthly PMI premium payment expense.

Cash to Close

This is the amount of cash that is required to pay for all Lender and 3rd party service providers costs and fees, as well as any prepaid costs such as; prepaid interest per diem charges, unpaid or due property taxes, Homeowners insurance premiums and funding of the Impound Account Reserves, if requested. Cash to close can be reduced or completely eliminated by the Lender Credit.

Credit Score

Credit score is a numerical figure that expresses the creditworthiness of a consumer. Credit scores are produced by the 3 major credit bureaus and mortgage lenders will use the middle score of all three credit scores to determine the credit score of the mortgage loan request. If there are only 2 scores, the lower of the 2 scores will be used. If there are 2 borrowers on the mortgage loan application, the lowest middle score of the 2 will be used. Lower credit scores will have negative pricing adjustments, while higher credit scores (over 760) will have a beneficial effect on pricing from Instant Rate Quotes.

Impound Account Reserves

Impounds for the payment of property taxes and homeowners insurance on a monthly basis by the borrower, is an option for most borrowers, but mandatory on transactions that have smaller down payments. These reserves are calculated depending on the month of the year your transaction closes and the amount collected will be that amount necessary to ensure sufficient funds are in the account when your property taxes (or homeowners’ insurance) are due. The impound account reserves are funded at closing and can be a significant addition to the cash requirements to close. Requesting a waiver of the Impound account may, in some cases, effect pricing.

Instant Rate Quotes

Instant Rate Quotes is a financial services tool that uses the data that you enter in the fields above to determine your specific pricing for interest rates across a broad range of mortgage loan products. If the rates and costs aren’t what you expected, or you are not receiving results, it could be due to the criteria you have entered into our system.

We are always ready to review and assist you with pricing questions or make suggestions to enhance rates and pricing. Call one of our consultants directly at 866.411.3621 or email us at
Empire of America Corporation (EOAC), was established in 1983, and is currently lending in the states of California, Texas, and Florida.

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Reeran K.

I'm a repeat customer this was my 2nd set of refi loans thru Empire (2017 and 2021). Dave, daughter Stephanie and whole team are knowledgeable, efficient, and accessible.

Empire is an actual lender not a broker and their rates are competitive. Their website is up to date so it's easy to compare rates. All requested info and signatures are done electronically so it speeds up the process. Funding was fast too.

Thank you!

Arvin D.

I am a repeat customer with Empire. This is my fourth time working with Empire of America. Once a few years ago and three times in the past year with my other properties. I keep coming back because it always a pleasure to work with Stephanie and the whole Empire staff. Everyone is always on the top of their game which makes the loan process very smooth and efficient. Definitely would comeback in the future.

Melissa C.

This review is long overdue. I have worked with Stephanie and Dave not once but twice, I have referred them to both my mom and my grandma. That is how much I trust their business ethic. Their interest rates are extremely aggressive, among the best in the business, but more importantly they give you honest feedback and walk you through every step of the process. They answered my calls and innumerable questions patiently, and they did what they said they would do. I would recommend them to anyone needing to refinance or purchase!

Rate / APR

Federal Disclosure: Your actual rate, payment, & costs could be higher. Obtain an official Loan Estimate before choosing a loan.

Closing Costs
Important Notices

Closing costs: are based upon the information you provided and are subject to change until you have completed an application and locked your interest rate. When your online application has been completed, you will be provided a Loan Estimate (federal disclosure), and upon receipt of your loan pre-approval, you will be given the opportunity to lock your interest rate and guaranteed closing costs.

Guaranteed Lender Fee: Empire’s lender fee includes processing, underwriting, credit report, doc prep, funding, tax service and flood cert – everything! This fee may be covered partially or entirely by the lender credit; contact an Empire Loan Consultant to discuss this option.

Empire’s Guaranteed Appraisal Fee is determined by the county you selected to produce your pricing. Note, if your home is valued over one million, or larger in size (home or land) – that fee may increase.

Recording Fees: on refinance transactions, your current lender may charge you a recording fee or a processing fee to prepare and deliver a payoff demand for the payoff of your current mortgage obligation.

Pre-paids: Interim Interest is defined as prepaid interest from the day you fund your new home loan until the end of the month in which your transaction closes. Since this pre-paid interest period is difficult to estimate early in the transaction we don’t currently estimate pre-paid interest until closing.

Impound Account Reserves: these reserves are calculated depending on the month of the year your transaction closes. The amount collected will be that amount necessary to ensure sufficent funds are in the account when your property taxes (or insurance) is due. Also a small two-month cushion is required. If you have an impound account with your current mortgage lender, you can expect a full refund of those monies within 30 days of closing. For purchase transactions, you can expect annual property taxes to be calculated at a rate of 1.250% of the purchase price.