Today, mortgage rates in Seattle are at their lowest compared to average rates over the last three decades. Seattle’s Mortgage Broker specializes in helping homebuyers find the best mortgage rates Seattle has to offer. With the lower interest rates offered on properties, we could help you save thousands of dollars over the life of your mortgage.
How can I get the best mortgage rates in Seattle?
First, do a rate check by comparing the interest rates of multiple lenders. Mortgage providers offer different rates and fees. Get quotes from multiple lenders and compare their rates.
Some homebuyers avoid doing a rate check, thinking that it will affect their credit scores. The truth is that you are allowed to make multiple credit inquiries when shopping for a mortgage without affecting your credit score. We have a mortgage calculator you can use to compare interest rates.
Understand how your credit score affects your mortgage monthly rates. Lenders with high credit scores often pay lower interest and vice versa. One of the best ways to improve your credit score within a short time is to pay off your credit balances. Many debts on your credit card can significantly damage your credit score. Try to pay off your balances altogether or get them at least under 15 percent. In addition, remove collection accounts on your credit.
A good credit score can help you get mortgage loans at lower interest rates. Ask friends or family members with credit card accounts that have positive payment histories to add you as an authorized user. You should expect an improvement in your credit score once you are added as an authorized user.
What is an adjustable rate mortgage?
People who are planning to sell their homes within five years will find adjustable rate mortgages quite attractive. For instance, you could take our 5/1 ARM loan with rates that start low the first five years and increase on subsequent years. We often advise our clients who are not sure how long they will be in their new homes to lock in a fixed rate since interest rates are at an all-time low now.
Finding a reasonable mortgage rate is determined by many factors, including your credit score and available financing options. Seattle’s Mortgage Broker can help you save thousands of dollars by offering mortgages at low-interest rates. When shopping for mortgages, make sure your credit score is as low as possible so that you can qualify for our low-interest mortgages.
Be sure to pay off your credit card balance and get rid of your collection accounts. In addition, talk to your friends and family and ask them if they can make you an authorized user on accounts with a good credit score. Remember, the type of mortgage you get determines your interest rate.
Seattle’s Mortgage Broker has helped thousands of people buy their homes. Call us today to check current rates.