GoRascal -GoRascal -

GoRascal -

Getting the Best Mortgage Interest Rate Whether you're interested in getting Loans for New Home Buyers or seeking to refinance your existing mortgage, getting the best interest rate will save you significant amounts of cash in the...

About GoRascal

Getting the Best Mortgage Interest Rate



Whether you're interested in getting Loans for New Home Buyers or seeking to refinance your existing mortgage, getting the best interest rate will save you significant amounts of cash in the long run. We've compiled some tips for you at GoRascal from our vast experience dealing with many mortgage situations from various lenders. Read on!

Evaluate your Credit Scores and Reports
Check your credit scores from the websites of the major credit bureaus and confirm that everything stated is accurate. Raise disputes early on through any available channels if you notice any discrepancies. The better your credit score, the higher your chances of getting a mortgage with the lowest interest and insurance rates.

Plan Ahead for a Larger Down Payment
Making larger down payments for your mortgage will influence your risk categorization by the lender in a positive way. Lenders categorize mortgagors who make lower down payments as high-risk borrowers and may not benefit from low-interest rates.

Increase your Income Stream and Reduce Debts
Increasing your income while your debts remain constant is an excellent way to reduce your debt-to-income (DTI) ratio, which should be at least 35% or lower for the best loan deals. If you find it hard to increase your income, you can find ways to reduce your debts to achieve the same results. Even better is if you can increase your revenue while simultaneously reducing your debt levels.

Settle for a Shorter Loan Term
You can significantly lower your interest rates by opting for a shorter-term loan compared to a long-term one. For instance, the interest rate for a 15-year fixed-rate mortgage is lower than for a 30-year fixed-rate mortgage.


Contact Us:

GoRascal
Address: 285 N 6th Street, 2nd Floor, Brooklyn, NY 11211
Phone: (646) 993-4258
Email: hello@gorascal.com

Topics of interest

GoRascal is not following any topics yet.

Followers (2)

Ella JoniElla JoniMarlin ThomasMarlin Thomas