3 Useful Tips To Get The Best Mortgage Rates, Austin, TX

July 27, 2020

3 Useful Tips To Get The Best Mortgage Rates, Austin, TX

By Published On: July 27th, 2020Categories: Austin TX, Mortgage Broker Austin TX

You have found this page because you are probably searching for some tips on how to get the best mortgage rates, Austin, TX. Read on as this post is for you. We are sharing in this post some useful tips that can help you make an informed mortgage decision.

Tip #1: Have a healthy credit score

Before you apply for a mortgage loan, make sure that you work on your credit score. A healthy credit score is one of the factors that lenders consider for their offer. The better the credit score, the better the deal on interest rates. A credit score of 700 is good. Or better yet, aim for 800 or above as this is considered an excellent rating.

Here are some tips to improve your credit score:

  • Pay your bills on time
  • Pay debts on time
  • Keep balances low on credit cards
  • Apply for and open new credit accounts only when needed
  • Don’t close unused credit cards

Tip #2: Work with a mortgage broker

In a nutshell, a mortgage broker does the legwork for you by sending out loan applications to different lenders and making loan term negotiations. The goal is to find the best mortgage rates, Austin, TX, that best fit your needs.

As the job of a mortgage broker’s complex, it requires top-notch mortgage skills and experience. Thus, it just makes sense that a mortgage broker is a licensed and regulated financial professional.

Tip #3: Compare Loan Estimates from different lenders

When choosing a lender, pay close attention to lender fees. Ask your broker about the fees associated with the mortgage loan. In particular, focus on page two of your Loan Estimate form in the Loan Costs section under “A: Origination Charges.”

Placing the Loan Estimates from your prospective lenders side by side to compare is key to finding the best mortgage interest rates in town.

HomePlus can help you find the best mortgage rates, Austin, TX. Talk to one of our mortgage experts today. Please call (512) 949-338533.