George L. Duarte

Mortgage Loans Fremont California Horizon Financial Associates

  • Home
  • About
    • About
    • Awards
    • Privacy Policy
    • California Privacy Notice
    • Accessibility Statement
  • Reverse Mortgage Library
  • Resources
    • Real Estate Corner Radio Show
    • VA Loans
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage FAQ
    • Mortgage Glossary
    • Closing Costs
    • Living Trusts
  • Reviews
    • Video Testimonials
    • Reviews
    • Write a Review
  • Apply Now
  • Contact

How To Negotiate A Better Mortgage Rate

November 3, 2020 by George Duarte

How To Negotiate A Better Mortgage RateFor those who are thinking about buying a house in the near future, they want to make sure that they get the best mortgage rate possible. At the same time, if people who want to reduce the interest rate on their mortgage, then they need to do everything you can to make yourself as attractive as possible to lenders. When they are negotiating for a better rate on your mortgage, they need to keep a few important points in mind.

Make A Larger Down Payment

If people want the lender to reduce the interest rate on your mortgage, then borrowers need to think about making a larger down payment. By doing everything they can to reduce the risk they present to the lender, they will be rewarded with a lower interest rate. If borrowers are willing to put more money down, then that is less money that the bank has to lend out. Therefore, the risk the bank takes on is going to be reduced and borrowers will be rewarded with a lower interest rate. Make a larger down payment to reduce the interest rate on the mortgage.

Improve the Credit Score

Another way that people can reduce the risk that they present to the bank is to improve their credit score. What can borrowers do to make this happen? They can check your credit report first and correct any inaccuracies that might be present. After this, they should take a look at any existing debt they have and try to pay down as much of it as possible. By reducing the amount of debt they owe, the credit score will improve, helping them qualify for a lower interest rate on their mortgage.

Take Advantage Of Discount Points

Those want to reduce the interest rate on your mortgage, could use something called discount points. These are points that the borrower will pay directly to the lender in exchange for a lower interest rate. By providing the lender with more money up front, they can secure a reduced payment over the life of the loan.

Reduce the Interest Rate

These are a few of the fastest ways that people can secure a lower interest rate on their loan. This can save them a tremendous amount of money.

Filed Under: Mortgage Tagged With: Down Payment, Mortgage, Mortgage Rates

Sidebar

George L. Duarte

MBA, CMC, CMHS
Call 510.377.9059
Fremont, CA

California DRE Corp Lic no. 01032295
DRE Personal Brokers Lic. No. 00943635
NMLS Corporate Lic. No. 302358
Personal Lic. No. 302219
Horizon Financial Associates Logo
View Lending Cert
NAMB Member Cert
Get a Rate Quote
Mortgage Refinance Companies
NAMB
Veterans VABA Member
CMC Logo

Follow My Posts and Sign Up for My Newsletter!

Download Our App!



Horizon Financial Associates BBB Business Review

Connect with Me

Recent Awards

Mortgage Pros
2019 Best of Fremont 2017 Best of Fremont 2016 Best of Fremont
See More Awards →

Browse Articles by Category

Recent Articles

  • 5 Things To Know About Severe Weather And Homeowners Insurance
  • Best Things To Do Now To Get Your Finances Mortgage Ready
  • Looking to Pay Back Your Mortgage Faster? Three Reasons to Consider Switching to Bi-weekly Payments
  • Understanding the Differences Between ‘Prequalified’ And ‘Preapproved’ For a Mortgage
Horizon Financial Associates is a BBB Accredited Mortgage Broker in Fremont, CA
Equal Housing Opp
CRB Logo REALTOR logo

Our Location


39488 Stevenson Pl
Fremont, CA 94539

Copyright © 2023 · Powered by MySMARTblog

Copyright © 2023 · Genesis Sample Theme on Genesis Framework · WordPress · Log in