Home Mortgage Loan Rates – BoA, Wells Fargo, Chase and CitiMortgage Interest Rates on June 29
Posted on | June 29, 2010 | Comments Off
Home mortgage loan rates have been historically low for the entire year but on June 29, 2010 we are seeing all-time lows for the 30 year fixed rate. BoA, Wells Fargo, Chase and CitiMortgage are all offering interest rates well below 5% to borrowers who qualify with a very impressive credit score.
It is very important to remember that these are four of the biggest mortgage lenders in the country but there are many other options. By simply doing your research online you will likely find that there are many mortgage lenders in your area that can help you lock into low mortgage interest rates today.
To get the lowest possible mortgage interest rates you will need a credit score above 740 and a debt to income ratio below 40%. Without these requirements you are going to find it nearly impossible to lock in the lowest home mortgage loan rates you see advertised on television and the Internet.
The best way to improve your credit score is to make certain that you pay all your bills on time and in full. If you have not been doing this then you will likely see a drop in your credit score which in turn will make it nearly impossible to find the lowest interest rates on any amount of money you decide to borrow.
Author: Alan Lake
Tags: boa mortgage rates > chase mortgage rates > citimortgage rates > Home Mortgage Loan Rates > loan rates > mortgage loan rates > Wells Fargo Mortgage Rates