Many buyers are concerned about high interest rates—but you can overcome them!
There are several strategies you can use to get the lowest interest rate possible for your mortgage.
First, focus on improving your credit score. Credit scores are one of the main things your lender will take into consideration when determining your interest rate. A higher score will mean a better interest rate.
Then shop around for different mortgage rates. Remember that different lenders will have different rates and terms, and you can ask lenders to compete against each other for your business.
You’ll also want to look into local homebuyer assistance programs. These can help score a lower interest rate if you meet the qualifications.
Once you find a mortgage you love with the terms and rates you’re looking for, ask your lender what it would take to lock the interest rate and make sure that it doesn’t increase while the home is in closing.
