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