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How to Get Your Best Mortgage Rate

SFU How to Get Your Best Mortgage Rate


How to Get Your Best Mortgage Rate

  • Keep a clean credit score. The higher your score, the better the rate
  • Use a mortgage specialist that does large volumes. They have access to rate and product specials not always available to other brokers or banks
  • Get a rate hold for the maximum time you can (usually 120 days), so if rates go down, you will get the lower rate
  • Mortgage lenders prefer steady employment for at least the past two years
  • Don’t shop around yourself or you could hurt your credit rating if each banks pulls a bureau
  • More money down could mean a lower rate or savings from having to pay insurance premiums

(All tips are for example purposes only and on approved credit)