Posted on: 27th Sep, 2009 11:47 pm
How does the interest rate factor in securing a mortgage loan?
Interest rate is a very important factor while securing a loan. Your monthly payments would depend upon the interest rates charged by the lender. The higher the interest rate, the more monthly payments you have to pay.
Steve,
Further to add, interest rate applicable to you, will depend upon your credit history, mortgage duration, % down payment. if you have good history, & lender is confident about you, he will give you good options.
Further to add, interest rate applicable to you, will depend upon your credit history, mortgage duration, % down payment. if you have good history, & lender is confident about you, he will give you good options.