![]() ![]() Below are steps you should take to get the best mortgage rate. We’ll assist you in preparing all your documents and securing the best mortgage rate possible.As you look at Houston TX homes for sale it is important to present yourself as a qualified and worthy borrower to lenders. If you’re looking to buy a home, our team at Rock Mortgage can help you find the right loan program for your needs. Rates are usually higher for an investment property or second home. Rates are lowest for properties that will be used as primary residences since homeowners are most likely to stay on top of monthly payments for the place where they’re living. Occupancy Type: Lenders will likely change your mortgage rate based on the intended occupancy of the home.A down payment often does lead to a lower rate, though, because borrowers who have the funds for a down payment are less likely to default on their loans. Therefore, a hefty down payment will always decrease your monthly mortgage payment even if it doesn’t lower your mortgage rate. Down Payment: The greater your down payment, the smaller your loan amount. ![]() Making timely payments and paying down your overall balance will help improve your credit score significantly. Of these five factors, your payment history and the amount you owe are the most important. Your credit score is based on your payment history, the amount you owe, the length of your credit history, how much new credit you have, and the diversity of your credit lines.
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