Are you thinking about buying a home? If so, you'll need to get a mortgage. And one of the most important things you can do is to shop around for the best interest rate. But there are a few mistakes you could make when rate shopping that could cost you money in the long run.
In this video, I'll talk about three of the most common mistakes people make when rate shopping for a mortgage. I'll also give you some tips on how to avoid these mistakes and get the best possible interest rate.
In addition to the three mistakes mentioned above, here are a few other things to keep in mind when rate shopping for a mortgage:
Your credit score is one of the most important factors that lenders will consider when determining your interest rate. So it's important to make sure your credit score is in good shape before you start rate shopping.
The type of mortgage you choose can also affect your interest rate. For example, fixed-rate mortgages typically have lower interest rates than adjustable-rate mortgages.
The amount of money you put down can also affect your interest rate. The more money you put down, the lower your interest rate will be.
By following these tips, you can avoid making common mistakes when rate shopping for a mortgage and get the best possible interest rate.
Seeking help buying or selling a home?
Reach out to me:
Phone: 214-755-9155
Email: jestes@houseloan.com
Website: www.estesmortgageteam.com
Follow me on Instagram: @jonestesmortgage
