If you’re just starting your home search in Plantation, then you know it can be a complicated stressful process, especially if you’re going to need a mortgage. And if you’re a first-time home buyer, you’re definitely going to want the sage advice of an established mortgage company. While there is no lack of real estate agents to help you find the specific property you want, who is the best choice when it comes to finding your mortgage loan options? Ace Mortgage Loan Corp., has the years of experience in the industry that you’ll want and our team can offer you the best mortgage options. We have been in business since 1996 and have thrived over the years, even when many other mortgage companies have failed.
How Can I Find an Ideal Interest Rate?
When shopping for an ideal mortgage rate in Plantation, there are many factors to consider. While interest rates have remained relatively low these past few years, they have at times fluctuated and can go up or down at any time. Keep abreast of the rates and check them daily. At Ace Mortgage Loan Corp., we’re here to help you find your ideal loan with a great interest rate.
What Factors Go into Determining What Interest Rate I Get?
While many factors go into determining your rate, cleaning up your credit score is one of the most important ones. The better your credit score, the better your chances of securing ideal rates for mortgage loans in Plantation. Lenders look carefully at credit scores and that will weigh heavily on the rate they present you with as a borrower. The higher your credit score, the better risk you are. While there are other scores used to determine your rate, your FICO credit score is ultimately the most important score. Here are four invaluable tips to helping you get the best mortgage rate in Plantation:
- Pay down your debts, and make sure you make your payments on time.
- Do not cancel any credit cards as this will mean you have less credit and while you think it’s a good thing, it will actually cause your credit score to drop.
- Get the Credit Karma app to track your credit scores to keep your credit healthy. They will also offer tips and recommendations to help increase your overall score.
- Make sure you keep track of all your assets including checking and savings accounts. Lenders look at all available assets when considering your rate such as bank accounts, 401K, IRA, etc. Lenders like to see that you have funds available for a rainy day.
- Put down as much as possible. To obtain a mortgage in Plantation you should put down as much money as possible because not only will it lower your monthly payments, but it will also help you get a better rate. The rates for mortgages in Plantation are determined by many factors, including the overall “risk” of the loan. The higher your down payment, the lower the risk. Putting down the highest amount possible will help you lock in a better rate.
These are just a few of the ways that might help you to lock in a great low mortgage rate to purchase your home in Plantation. Our team of experienced and knowledgeable professionals at Ace Mortgage Loan Corp. can help you find great loans at the best possible rates. Call our mortgage loan specialists at Ace Mortgage Loan Corp. to secure your ideal rates today at (954) 777-4774.