How to Get the Best Rate

When you're in the market for a new home, one of the most important buying factors is the mortgage rate. Obviously, you want to keep it as low as possible, which you can do easily when you compare mortgage rates with our service! Even with our help, there are other steps you can take to ensure you get the best rate on your mortgage:

• The lowest interest rates are given to customers with the best credit scores, so before you ever apply for a mortgage, you should do everything you can to raise your score. There are many ways to raise your score, but you should start by obtaining a copy of your credit report and making sure it is accurate.
• Even if you're unable to raise your credit score too much, it shouldn't stop you from getting a mortgage. Often, you can explain why you might have had some credit problems, but can still be trusted to pay back your mortgage. By comparing mortgage rates with our service, you can find the best rate despite a poor credit score!
• If you're having trouble securing a low mortgage rate, try waiting a couple months and saving up as much money as possible. You can put this toward your down payment and could possibly save thousands in interest down the line.
• Consider the factors that are important to you when buying your home. For instance, if you do not have children or do not plan to anytime soon, why purchase a home in a neighborhood that is close to schools? That location can cost thousands of dollars more than a location further away from schools.
• Remember that on any given day, lenders and brokers may be offering different loan terms to different customers. The market is in a constant state of change so check back early and often.
• Always be completely honest when filling out your mortgage or loan application. Many people are surprised to hear that misrepresenting income is one of the top reasons mortgage applications are rejected.

Please check out our next page for a comparison on different types of mortgages.