Details for MARION HOUSE ADS/NO CHARGE
ASK-A-REALTOR Q: If my credit score is excellent, will that lead to any reductions on interest rates for a mortgage? A: Yes! It certainly should help in fundamental ways. Your credit score reﬂects how well you use the credit you have, and how reliable you would likely be in paying your mortgage. But it is just one of the things lenders use to determine the interest rate they will offer you. Just as important is your debt to income ratio—your monthly bills vs. your veriﬁed income. Other factors include the amount of the loan—very small loans and very large loans traditionally carry higher interest rates; how much you have for a down payment; loan term— 15 or 30 years, for instance; whether it’s a ﬁxed or variable rate loan; and loan type—VA, FHA, or conventional. Even where the home is—what state, and whether it’s an urban or rural property—can affect that all important interest rate. Be sure to shop around! !/(1)'## ,0.-( 1% -&."*0-+ $ &2$,0 ' #1"- (" /*, +!. )22/*(%%0 Go to www.mcdowellnews.com to submit a real estate question.