When you're considering a home loan, the mortgage rate you will be offered is based on a number of variables. Some of these correspond directly with the criteria in which the lending institutions used to approve you for a loan in the first place. However, after you are approved for a loan, there are factors that will dictate the interest rate you will be offered. Saving a quarter percentage point on a $100,000 mortgage can reduce your monthly payment by nearly $20 per month.
3 March 2017