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How to get the best mortgage rate. But, the average home costs more than $260,000, and since you likely don’t have that kind of cash sitting in a savings account, you’ll need to borrow most of that amount from a lender and spend a decent portion of the rest of your life paying it back, plus interest. Your mortgage interest rate, then, is a big deal.
How to Get the Best Mortgage Rates? – SuperMoney – For instance, compare the total cost of a $200,000 mortgage at 6% with a 30-year mortgage to a fixed-rate loan 15-year mortgage with a 5.5% interest rate. Source: Federal Reserve Board Notice how choosing a 15-year mortgage instead of a 30-year mortgage could save you $137,520 in interest on a $200,000 property.
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How to Get the Best Mortgage Rate | LoveToKnow – In order to receive the best interest rate possible, you’ll want to have a very good credit score (740-799) or an excellent mortgage rate; lowest Mortgage Costs; Build Credit. If you don’t have much credit, odds are that you will not be approved for a mortgage.Articles. Credit Union Mortgage Rates; When to Lock in Your
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