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How can you get the best mortgage rates?

Updated: 4/28/2022
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Epicresarch

Lvl 1
9y ago

Best Answer

Have pristine credit. The better your credit history is, the lower your mortgage rate will be.

The worst things you can do to your credit, in the eyes of a mortgage company:

1) Not pay your bills. This is absolutely the worst thing.

2) Not use credit at all. If you never use credit, the mortgage company can't determine how you act when you do.

3) Not carry a balance. If you get a credit card, make small purchases and always pay them in full at the end of the month, mortgage companies consider that not using credit.

4) Having way too much available credit. If you have many credit cards, the mortgage company will assume you might actually use all that credit. If you DO use it all, you won't be able to pay your house payment.

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