Mortgage Rate Verdict
Generated by FairRate · Independent analysis · No lender affiliation
Borrower
S. Kowalski
Location
Denver, CO
Loan Amount
$385,000
Loan Type
30-year fixed
Rate Verdict
⚠ Your Rate
7.375%
30-year fixed · FICO 740–759 · 10% down
Verdict
Significantly Above Market
51 bps above market
Your Quoted Rate
7.375%
—
Market Benchmark (30-year fixed)
6.862%
—
Rate Gap
—
+51 bps
Benchmark: OBMMI – Optimal Blue Mortgage Market Indices (FRED) · Series OBMMIC30YF · Data as of 2026-04-18
Cost of the Rate Gap
Paying 51 basis points above the market benchmark on a $385,000 loan costs:
$126/mo
extra per month
$45,360
total over 30 years
Negotiation Script
Word-for-word language to use when you call your loan officer.
Rate Negotiation Call Script
Based on 51 bps above-market gap · $45,360 at stake
"Hi [Loan Officer], I've been reviewing my rate quote of 7.375% and wanted to discuss it with you."
"I've checked the current market data — the OBMMI benchmark for a 30-year fixed with my profile is 6.862%."
Unlock your full script — $19
Includes complete negotiation script tailored to your exact numbers
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