Tag: how to get good interest rate mortgage

get a better interest rate

Is It Actually Possible to Negotiate a Better Mortgage Rate?

July 10, 2019

Making Sure You Get the Best Mortgage Interest Rate

When you are looking to buy a home, your first priority is finding a lender who will give you the amount you need for the home you want. Naturally, you want the best mortgage rate, but as the borrower, you may not feel that you have much leverage to negotiate.

However, even half a percentage point in the interest rate you’re tied to can save you thousands of dollars over the course of your loan, so it is in your best interest to try to use whatever negotiating power you may have at your disposal. If it’s possible to negotiate a better mortgage rate, then you always should; here are some strategies to get you started on the process.

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What Do I Need to Know About My Credit Before Applying for a Mortgage?

May 15, 2019

Understanding Your FICO Score and Preparing to Secure a Home Loan

Your credit scores, credit history, and your income, it may come as no surprise, have a great deal to do with how much of a home loan you can qualify for and at what terms. A great credit score can make all the difference when it comes to how much you pay for a loan over the course of its term. This may not seem like a big deal at first, but on a thirty-year mortgage, the difference can be staggering.

Your debt-to-income ratio, any late payments, repossessed items, bankruptcies, and several other factors all go into determining your credit score. But credit reporting bureaus are far from infallible, and with all the data breaches and identity theft happening these days, not all items that count against you on your credit report may be your fault. So, before you set up an appointment to apply for a mortgage, here’s what you need to know and do about your credit.

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