Who Gets The Best Rate for their Home Mortgage Loan?
If youre in the process of looking for a home mortgage loan, you may be wondering why some people seem to get great rates, while others have to settle for higher ones. Below, weve outlines three major factors that will determine what kind of rate you getread on to find out how to lower yours! Lenders Offer the Best Home Mortgage Rates To The Best Borrowers Your reputation as a borrower will have a lot to do with the interest rate that you are offered on your home mortgage loan. Every consumer carries with them, whether they know it or not, a file that contains information on all of your prior and current debt. as well as information on any problems that you had in the repayment of that debt. This file is known as your credit report or credit history. Your credit history should be thought of as your credit resume. This is what lenders will look at to determine if they want to lend to you and if so, how much interest they need to charge on the loan. If you have a good credit history, whi
