Mortgage Rates

Buying Down Interest Rates With Discount Points On Mortgage

Buying Down Interest Rates With Discount Points On Mortgage

This BLOG On Buying Down Interest Rates With Discount Points On Mortgage To Meet DTI Requirements: Lenders will charge higher mortgage rates to those seeking a home loan with bad credit, especially for conventional mortgage programs. Conventional mortgage programs are extremely credit-sensitive. The minimum credit score required for borrowers to qualify for conventional loans is […]

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Factors Affecting Mortgage Rates

Factors Affecting Mortgage Rates

There are ten major factors that affect the mortgage rate a lender quotes you. Anything that adds risk to the lender, like a small down payment, low credit score, or large loan amount increases your mortgage rate. You can lower your mortgage rate by improving your application, choosing a different loan program, or paying discount points.
Mortgage rates vary among lenders. The government does not set mortgage rates for FHA, VA or USDA loans.

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