1. Check Your Credit Score First
Your credit score is one of the biggest factors in determining your mortgage interest rate.
2. Get Pre-Approved
Pre-approval involves a thorough review of your finances.
3. Hidden Costs
Budget for closing costs (2-5% of the home price), property taxes, insurance, and maintenance.
4. Shop Around for Rates
Compare at least 3-4 lenders. Even a 0.25% difference saves tens of thousands.
5. 15-Year vs 30-Year
A 15-year mortgage saves on interest but has higher monthly payments.