Today’s Lowest Mortgage Interest Rates – Bank and Mortgage Lender Home Loan Rates Under 5% in Summer 2010
Posted on | June 24, 2010 | Comments Off
Today’s lowest mortgage interest rates are a very attractive levels as many banks and mortgage lenders are reporting that 30 year fixed mortgage rates are under 5% in the summer of 2010. With this being the case many borrowers will likely seek to lock in to a low home mortgage rate today.
It is extremely important to understand that not all borrowers will have the opportunity to lock in to low mortgage interest rates. You will need a very impressive credit score, about 740. You will also need to have equity in your home if you are looking to refinance. If you are looking for your first home loan you will need a debt to income ratio is below 40%.
With many banks and mortgage lenders reporting low interest rates and should not be difficult to find a lender in your area that can help you. While there are many national lenders that offer great services you should also check local lenders to see if you can get great customer service with a very impressive interest rate offer.
Before making any major financial decision is always important to step back and look at the big picture. You will want to make 100% certain you are making the right decision before you sign on the dotted line.
Author: Mike Garner
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