Here are your action steps
Step 1
Fix your credit score so it is at-least 700 or higher
Step 2
Make a 20 percent down payment
Step 3
Buy your home now, interest rates have not been this low in years and you probably won’t get it this low again
Step 4
Go to the bank in your neighborhood and apply for your mortgage, mortgage brokers have an interest in selling you a higher interest rate because they plan on selling your mortgage to the highest bidder. Higher interest rate yields greater profits.
Step 5
Make sure your debt to income ratio is low, therefore you will not be a high-risk candidate. Pay down your debt before applying for a mortgage or refinancing.
23 Responses for "“How to” get a lower interest rate when purchasing a home or refinancing"
My credit can buy the world but i will work on that 20 percent down. Thanks!
with a low debt to income ratio and low interest rates this surely is a great time to purchase a nice home in a decent neighborhood.
I agree with that. The problem is the strict rules they have to purchase a home. You need a high credit rating and 20 percent down. Anyone with a lot of money and good credit will benefit. Interest rate is rock bottom so if you have the money and the credit then you would be nuts not to invest in property right now.
Good info, very informative, I will take this rss feed for sure,thx!
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YOU ARE RIGHT! There may never be a better time to purchase a home.at least not in my lifetime.I would encourage anyone who fits the criteria to go out and Purchase!Purchase!purchase as many homes as their money can buy.
Niiice post thanks so much for this useful info
Great articles & Nice a site
Thank you for your help!
Hello. Great job. I did not expect this on a Wednesday. This is a good story. Thanks!
Learn something new everyday. Been lurking around on your blog for a little while now…
Just thought I would hit you up on one of your posts to let you know I exist
thanks !! very helpful post!
Wow! Thank you! I always wanted to write something like that on my site. Can I take part of your post to my blog?
Very, very cool site site! I am loving it!! Will come back again - taking you feeds also, Thanks.
You are a very smart person!
Hi there, I found your blog via Google while searching for information on this topic. Your post looks very interesting to me.
Please, can you PM me and tell me a bit more about this, I am really fan of your blog.
As a Newbie, I am always searching online for articles that can help me. Thank you
Keep working ,great job!
amazing stuff thanx
When you have a low credit score, refinancing your home can seem like a Sisyphean task. But for those who are experiencing sudden economic setbacks, refinancing a home loan may be necessary. Refinancing will give you the ability to lower your monthly payments, allowing you extra money every month to pay off your other debts. Problems arise, however, when your credit score is too low.
If your credit rating is at about 700 or above, you should have no problem refinancing your home loan, and may even be able to get a lower interest rate. But if you’re at 699 and below, you might not have as easy a time.
When your score is in the range of 600-700, getting your home refinanced shouldn’t be too hard as long as you haven’t made any late payments on your loan. But you should expect that you will have to face a higher interest rate.
we must promise.. Never giving up..
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