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Got a Home in Virginia?
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Lower Your Mortgage Interest Rate

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Every homeowner loves saving money. You can save a substantial sum of money over the life of our mortgage by refinancing to a lower interest rate. If you have been unsure about refinancing because you might move within the next five years, there are still options to save you money.

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that can save you thousands of dollars on your next home loan.

Your Credit Score

A solid credit rating is your key to improving your mortgage and finding the lowest interest rate. Lenders view homeowners with good credit as less of a risk; as a result you will receive a lower interest rate for your mortgage loan.

Improve Your Credit Score

Improving your credit is easier than you might think. Start by paying down the balances on your credit cards. If you have cards that you rarely use, close the accounts. If you reduce your debt and pay your creditors on time, your credit score will improve in a short amount of time.

Be Aware of Your Lender’s Lock Period

Once you have selected a lender and a mortgage, make sure you are able to close in the time allowed before the lock period expires. The lock period is the amount of time your lender guarantees your interest rate. If you are unable to close before the lock expires your lender could raise the interest rate.

Pay Points If You Can

Points are prepaid interest. The more you pay up front, the lower your interest rate will be. This will save you much more money over the course of your loan.

Do Your Homework And Shop For The Best Deal

You won’t be able to recognize a good deal until you’ve done your homework. Our free guide to mortgages and mortgage refinancing will teach you the lingo, the industry, and how to spot a good deal.

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