Tips to Help Obtain the Best Mortgage Rate

By
Real Estate Agent with BHGRE - Metro Brokers

How do you know if you are getting the best mortgage rate?

 

Bank profit margins are beyond your control BUT! You might be able to use these tips to help obtain a better rate.  Mortgage rates vary according to an individual’s FICO score, so know where a lender’s price breaks fall on the FICO score scale.

For example: Lender’s discounts kick in at a 700 score and you just fall short (maybe 680), consider reducing a credit card balance to bump up your score.

 

Comparison Shop! Shop! Shop! with as many lenders as possible. Shop banks, credit unions, etc. to get the best rate. Keep in mind, rates may contain varying discount points already built in, so be sure to get a rate with zero discount points. Credit Unions generally have the best mortgage rates.

I work with great mortgage experts who comparison shop and/or provide a “second look” if needed before you commit. Just contact me via email (for quick reply) and I’ll be happy to provide you with referrals.

Visit mortgage products and rates for more information.

Donna Yates Real Estate

Comments (3)

Diana White-Pettis
Bennett Realty Solutions - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

Thanks for the tips.  Comparison shopping is time well spent!

Jan 09, 2017 09:50 PM
Noel Mayer
Upper Montclair Weichert Realtors - Montclair, NJ
YOU WILL BE RIGHT AT HOME WITH NOEL

Donna,  I stopped by for the information. Thank you for sharing the useful tips

Feb 21, 2017 01:36 AM