Step 2: Understanding mortgage rates
Step 2: Understanding mortgage rates
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Most homebuyers are interested in getting the lowest interest rate available to them. Mortgage interest rates may vary widely depending on a number of factors and your choices can help you get the lowest rate possible.

  • Choosing between a fixed and adjustable rate is an important decision that you'll need to make when you select a mortgage.
  • Paying discount points upfront can help lower your interest rate over time.
  • Using APR can help you compare costs between two or more different lenders.
  • Shorter terms tend to produce lower interest rates.

Loans for low-income homebuyers

Depending on your personal situation, there may be a number of additional ways to lower your interest rate. If your state or local government considers you to be a low-income home buyer, you may be eligible for special low-rate loan programs.

To learn more, please call us at 1-800-873-6577.

Step 3: Get organized

Homebuying?
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1-800-873-6577

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Fixed rate mortgages remain the most popular type of mortgage with many homeowners.