As a loan originator working with clients everyday I am often asked, “what’s your best rate” about 30 seconds into every conversation. So I thought I would take a little time and answer this ever-eluding question.
We’ve found the secret to getting the best mortgage rate! The secret is having a good credit score. It’s as simple as this. If you’re able to impress your lenders with a pleasant credit score, they’ll want to give you the best deal. So, before you knock the doors of lenders, please take a look at your credit score.
What Gets You a Good mortgage rate
Getting a good mortgage rate sometimes seems as simple as calling your local bank or mortgage company for a quick quote. While it is possible to do it this way more then likely the lender will give you quotes based on the best possible scenarios and often assume you fit into those scenarios Below I have listed some of the areas that will affect your final rate.