🏠 Save Thousands with a Low Mortgage Rate & Low Fees!
Get up to a $600 "Appraisal Credit"2 Register by 6/15/2025
✅ Rates typically .5% lower than the competition1
✅ $600 Appraisal Credit2
✅ Processing fee waiver -additional savings of up to $500 to $1,0003
✅ Close as fast as 10 days
✅ Lightning fast AI driven underwriting
✅ 5 minute preapproval
✅ Approval as fast as 1 day
⚡ "We simplify the mortgage process with maximum transparency and speed—so you gain confidence and clarity around your best mortgage rates, lower closing costs, and home affordability."
💡 Tip: Bookmark the PAX Mortgage RATE FINDER for live, on-demand Florida mortgage rates — and confidently compare our rates & fees to any other lender you're considering.
Frequently Asked Questions
How to get the best mortgage rate when buying or refinancing your home?
The simple and easy way to save on your Conventional mortgage is to focus on the rate AND the origination charges associated with that rate. These charges can vary WIDELY among lenders and include:
✅ Optional discount points
✅ Underwriting fee and or Origination fee (some might have both).
✅ Any Borrower Paid compensation (maybe included in Origination fee)
✅ Processing fee
✅ Appraisal fee
💡 Tip 1: Compare the same rate. If two lenders give you two different rates i.e. 5.875% and 6.25% (you need more info) ask them both to quote the SAME RATE— this makes your job easy -- just add up the origination costs.
💡 Tip 2: Don’t stress about total closing costs when shopping for rate. Most third-party fees (title fees, taxes and other government fees, prepaids and initial escrow at closing) are generally in line, if not the same across lenders. And prepaids and escrow payments are really your money — any unused portions will be refunded to you if you sell your property.
The big opportunity to save is in the rate AND the origination fees associated with that rate.
For FHA and VA loans the principles are the same but they might have an additional origination fee of Upfront Mortgage Insurance Premium (MIP) for FHA or a VA funding fee (both of which are financeable).
You can potentially save Thousands with:
✅Upfront savings – Lower fees and origination costs at closing.
✅Long-term savings – Lower interest rates reduce monthly payments and increase monthly equity paydown. Even a small difference in interest rate can add up to a lot of money over time.
How does the RATE FINDER work?
The PAX Mortgage RATE FINDER (which you will see the linked button SEE YOUR RATES after your appraisal credit registration) is a live mortgage marketplace that pulls thousands of pricing options from all of our top lender partners in the wholesale channel. It updates automatically Monday through Friday—and refreshes multiple times per day when bond market activity is high. Many of our lenders also allow rate locks over the weekend, based on Friday’s market close.
Are PAX Mortgage rates competitive?
Yes, our rates are extremely competitive. And the rates in the RATE FINDER are "lender paid comp" e.g. our compensation is included in the rate so there will not be an additional origination charge to cover this.
Can a FICO rapid rescore help secure a better mortgage rate?
Yes — a FICO Rapid Rescore can significantly improve the mortgage pricing offered by adjusting your credit score during the loan process. Here's how it works:
✅ We run a "what-if" credit simulation using real-time credit data to identify quick actions (like paying down a specific amount on a certain credit card(s) or limiting shared card access) that may boost your score.
✅ If the results show potential for improvement, we guide you through the steps.
✅ Once completed, the improved score is resubmitted — often in just a couple days — and lenders will honor better pricing tied to your updated score, even if your loan is already locked and your closing is days away.
Why it matters: Mortgage rates are priced in tiers (e.g., 660–679, 680–699). If your mid-score improves from 673 to 680, or even improving from 779 to 780, you cross a pricing threshold — which can lower your rate OR the points associated with that rate. This could easily add up to a thousand+ dollars in savings (or more for a greater improvement i.e. 759 to 780) on closing costs.
💡 This service is complimentary, and potential results appear within the 2–3 week window of the mortgage process. It’s a powerful tool to help borrowers secure more competitive mortgage rates without delaying the process.
Do you need a Loan Estimate to shop for the best mortgage or refinance rate?
No, lenders are only required to send a Loan Estimate after you’ve submitted a loan application for the initial underwriting approval. However, you can still effectively shop for the best mortgage rate.
What if I have a loan estimate?
Focus on Sections A and B of the Loan Estimate. These show the competitive costs of the loan, including:
✅ All Origination charges/fees.
✅ Discount points (if applicable).
✅ Borrower-paid compensation (if applicable)
A lender credit (if applicable) appear in Section J.
👉 There’s no need to request Loan Estimates from every lender. Simply take the one you have and write in the other lenders’ fees line by line for Sections A and B. This makes for a clear, apples-to-apples comparison.
💡 Tip: Compare the same rate. If one lender offers 5.875% and another quotes 6.125%, you still need more information to determine which is cheaper? Ask both lenders to quote the same rate (e.g., 5.875%) then add up all the origination costs to determine the winner.
Are discount points optional?
Yes, but industry studies have estimated that as much as 30-50% of consumers are unaware of this.
Who qualifies as a first time homebuyer (FTHB) and what are the benefits?
Anyone who has not been on the title of a residential property in the U.S. during the past 3 years. And many lenders require only one of the buyers to be a FTHB. Benefits vary by lender and available programs, but a key advantage is the lower down payment—just 3% for Conventional loans backed by Fannie Mae or Freddie Mac, compared to the standard 5% minimum. Additionally, first-time buyers can withdraw up to $10,000 ($20,000 married filing jointly) penalty free from an IRA for a home purchase. Keep in mind these monies are still taxable.
Is it possible to refinance into a higher interest rate and still pay off the mortgage faster?
In many cases, yes. If the blended interest rate of all household debt—including current mortgage(s), credit cards, student loans, auto loans, and other obligations—exceeds current mortgage rates, and sufficient home equity exists, a cash-out refinance can be very advantageous (blended interest rate calculator). By consolidating all debts into a new mortgage and continuing to make payments equal to the previous combined debt obligations, the loan can be paid off significantly faster, potentially building long-term wealth. Or the borrower can just enjoy the new lower payment/increasead cash flow.
Is there really a 1% down payment Conventional program?
Yes, this is an affordability product for a primary residence — Single family, Condo or Townhouse, with a maximum loan amount of 350,000 and a minimum FICO score of 620. Additionally, total qualifying income must be less than 80% of the area median income (AMI). The 1% down is combined with a 2% DPA (down payment assistance) grant that does not require repayment. It is not necessary to be a first time homebuyer for this program.
80% of the 2025 area mediam income for some of Florida's largest counties are:
96,100 → 76,880 Miami Dade County
96,100→ 76,880 Broward County
96,100 → 76,880 Palm Beach County
98,100 → 78,480 Orange County
98,400 → 78,720 Hillsborough County
98,400 → 78,720 Pinellas County
102,300→81,480 Duval County
You can see all Florida counties by searching: "Area Median Income Lookup Tool" on desktop
How do bank statement loans work for self-employed business owners?
Bank statement loans offer a tailored mortgage solution for self-employed business owners. We use 12 or 24 months of bank statements from your business or personal bank account to determine the monthly income. Approvals are fast— no tax returns, W2's or paystubs are needed. This often allows qualification for a larger loan amount, as business write-offs can obscure true income on traditional tax returns.
How do DSCR loans work for real estate investors?
DSCR (debt service coverage ratio) rental loans for investors qualify using the monthly income (or potential monthly income) of the residential investment property. No personal income is necessary to qualify. This loan type enables investors to acquire more investment properties than they would be able to using traditional investor financing.
Why don’t most mortgage websites show actual mortgage rates?
Many high-traffic mortgage websites are actually lead generation platforms. Instead of offering real-time rates, they collect your information and pass it along to multiple lenders — which can lead to numerous unwanted calls and texts.
Even when you think you're dealing with a well-known mortgage brand, you’ll often need to complete more than one form before speaking to someone, and rates are typically only shared over the phone — not updated online.
At PAX Mortgage, we believe in transparency — that's why our RATE FINDER gives you instant access to real-time mortgage rates, anytime, with no sales pressure and no hassle.
How does the Florida Title Insurance re-issue credit work on a refinance?
A reissue credit is a discounted rate of anywhere from 30% to 50%, on a title insurance policy for those who can provide their original Owners Title Policy from when the home was purchased. If you can't find this document in your records, ask your title company that closed the purchase transaction (or a previous refinance). If you still can't obtain it, ask us. We have contacts at all the Title Insurance companies and they will search for this document (and a Survey too if they have one).
How does a limited cash out work in a "rate and term" refinance?
A rate and term refinance typically offers little lower interest rates compared to a cash-out refinance and allows borrowers to receive a small amount of cash at closing. Under Freddie Mac guidelines, a limited cash-out refinance permits up to $2,000 or 1% of the new loan amount, whichever is greater. For Fannie Mae, it allows up to $2,000 or 2% of the loan amount, whichever is less.
Can you use an old survey when purchasing or refinancing?
Yes, ask the sellers' agent if they can provide a survey and if you're refinancing look for an old survey in your documents or ask your previous title company for one. You'll save another $500-$600 in closing costs and just as important you'll save the time and hassle of getting a new one. The title company will determine if they can use the old one but if no changes have been made to the property it should be good.
What happens to your escrow account when you sell or refinance your home?
When you sell your house and for most refinances, the existing escrow balance is returned to you by the servicing company within 30 days. When you refinance with the same mortgage company, they may apply the existing escrow funds to your new loan.
How long does it take to close a purchase or refinance?
With a good lender, most purchases and refinances close in just 2–3 weeks — sometimes even faster. The main timing factor is the appraisal, which typically takes 7–10 days. Unlike big banks and credit unions that often move slower, we streamline the process to save you time and reduce stress.
1Optimal Blue Mortgage Market Indices (OBMMI)
2The Appraisal Credit is good for up to $600.00 (it will be for the amount you paid for your appraisal or $600.00 whichever is less) and paid on funding date for closed loans only. Once registered, the appraisal credit is valid for all closed loans within 180 days.
3Processing fees vary by lender, typically ranging from $500 to $1,000, with most falling in the mid range. A small percentage of lenders, including us, do not charge a processing fee.
PAX Mortgage LLC Licensed in Florida NMLS 1848389
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