A and N’s Home Buyer Tips: Interest Rate Shopping

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Tips for Serious Mortgage Shoppers
  • Get Educated  Borrowers should know terminology and mortgage basics before they shop.
  • Know Your Credit Score   Addressing any issues on your credit report prior to applying for a loan will allow you to take advantage of more desirable mortgage rates and products.
  • Shop Your Product Options  Though conventional loans are typically the most desirable, an mortgage insured by the Federal Housing Administration (FHA) may be more feasible.
  • Know The Market Trends  Mortgage rates adjust daily. If you find a low rate on a loan you like, consider getting a rate lock.
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2 Responses to A and N’s Home Buyer Tips: Interest Rate Shopping

  1. Randy says:

    Availing of a mortgage loan entails a level of risk so it would be wise to study each loan option and analyze which would work best for you and your pocket. A firm foundation is also important – start by maintaining a good credit standing and a stable account.

  2. Loans Guide SA says:

    With the tighter credit guidelines, those planning to purchase a home should now start checking their credit report, boost up their scores and save up a decent deposit. The better your financial status, the better your chances of securing a mortgage at a low interest rate. Such variations can potentially save you thousands of dollars over the full term of your loan.