LOCKING INTO A RATE LOCK PERIOD
- Making a larger down payment up front
- Pay mortgage points over the life of your loan
- Pay closing costs at your loan’s closing
Most importantly, your interest rate largely depends on your credit score and debt-to-income ratio. If you have good credit, and your income exceeds your debt obligations, you’re more likely to qualify for a lower rate, making your mortgage affordable, and your new home purchase the best investment of a lifetime.