Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

How to Get Low Mortgage Rates from Washington DC Lenders

By Darius Degross Subscribe to RSS | May 18th 2012 | Views:

Not a lot of people can afford pay with cash when they’re buying a home, which means you may have to get a mortgage to own your dream home. Most people are anxious about getting mortgage loans, thinking of the responsibility that comes with it. It is a pretty big burden to bear, but if you know what to do, it can be considerably easier than you think.

There are a lot of lenders and financial institutions that advertise low mortgage rates to draw people in. This means that low mortgage rates aren’t hard to find; obtaining them, on the other hand, is another thing entirely. Once these lending institutions have gained your attention with their rates, you would have to meet specific criteria for you to get a loan. This could be a daunting task for an average Joe, but there are some things that you can do to prepare and make yourself more attractive to lenders.

The best thing to have when you’re shopping for mortgage loans is good credit. You can get your credit report from credit bureaus, or you can work with websites like It is common knowledge that people with FICO scores above 760 get the best rates, but most Americans have a rating around 600. If you fall under the latter category, no worries; you still have a good chance.

You would look more financially stable if you have some assets like a boat or an RV, for example. If you don’t, even a few thousand dollars in the bank can be used as leverage, because this shows that you know how to handle money. It would be better, though, if the money you have in the bank is enough to cover around 10 percent of the loan.

You should also consider purchasing points when you’re looking for DC mortgage rates. Points will be what you pay up front to make your total mortgage payments smaller. You should also think about getting a shorter term for your mortgage; payments are high but you can save a lot on interest.

Another tip to get low mortgage rates DC lenders offer is to use scare tactics. Ask for official quotes for a couple of lenders and take the best quote to the others to see if they’re willing to beat those rates. Most lenders would say they wouldn’t, but some would be willing to make adjustments if they’re afraid you’re going to walk away.

If you can, you should work with mortgage brokers because they can help you find the best mortgage rates Washington DC has. For more information, you can visit

Darius Degross - About Author:
For more details, search DC mortgage rates, mortgage rates DC and mortgage rates Washington DC in Google.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Mortgage Articles Subscribe to RSS

Consultants to guide you for bad credit mortgage rates
Published by Jack Smith on July 26th 2012 | Mortgage
In the process of hunting for bad credit mortgage rates there has been seen an immense rise. But, to...
Exploring best adjustable mortgage rates as per expectations
Published by Jack Smith on July 23rd 2012 | Mortgage
The act and need for searching best adjustable mortgage rates is common in the world, where people s...
Explore the different options of mortgage rates available
Published by Jack Smith on April 14th 2012 | Mortgage
It is advisable to first thoroughly investigate about the most lucrative mortgage rate in the market...
Wells Fargo faces mortgage risk
Published by Apil Gupta on July 16th 2012 | Mortgage
One out of every three home loans in the USA is currently being funded by Wells Fargo and Co., which...
Good mortgage rates are important for a comfortable mortgage period
Published by Jack Smith on June 22nd 2012 | Mortgage
Get mortgage rates that you can easily pay off even in the future because a mortgage affair can last...
Search well in the market and get best mortgage rates
Published by Jack Smith on June 25th 2012 | Mortgage
For getting best mortgage rates from the market, you need to pull up your shocks and search well in ...
Should you go for a 15 or 30 year mortgage?
Published by Apil Gupta on June 24th 2012 | Mortgage
There are many times in life when one wants to possess something due to the sheer need of it, but is...
Why is an adjustable rate mortgage so popular?
Published by Apil Gupta on June 24th 2012 | Mortgage
An Adjustable Rate Mortgage (mortgage ARM, for short), also known as the lender's Standard Variable ...
Looking for refinance mortgage loan - How to find the right one
Published by Apil Gupta on June 24th 2012 | Mortgage
In case you are looking to refinance mortgage loan for your home, there are many things that need co...
New York auto insurance attract high rates
Published by Alabamaauto Insurances on January 17th 2012 | Finance
Residents of New York are some of the people who have to pay high rates in auto insurance policies. ...
US mortgage rates hit record low at 3.66%
Published by Apil Gupta on July 16th 2012 | Mortgage
There was a significant drop in the US mortgage rates for 30 year fixed loans...
What's the difference between the purchase, balance transfer, and cash withdrawal rates on credit cards?
Published by Jesse Wallace on July 11th 2012 | Finance
Understanding the various rates offered by your credit card could help you get the most from your pu...
Tread carefully on the path of Adjustable mortgages rates
Published by Jack Smith on June 23rd 2012 | Mortgage
Lack of awareness about adjustable mortgages rates can convert it into a boom and saving it from bec...
What all you should know about best adjustable mortgage rates
Published by Jack Smith on June 23rd 2012 | Mortgage
Best adjustable mortgage rates should be taken when you have a steady income and there is a slump in...
Consult well about Adjustable mortgage rates before selecting
Published by Jack Smith on July 23rd 2012 | Mortgage
Adjustable mortgage rates are turning worldwide popular because they offer variations on the rate of...
Review of banks benchmark rates deciding the prices
Published by David Hurley on February 20th 2012 | Finance
There is going to take place a global review of the rate of interest on which various banks borrowed...
Mortgage rates can decide your future finances
Published by Jack Smith on June 22nd 2012 | Mortgage
Mortgage rates you take today will have an influence on your financial status of tomorrow. Make your...
Most excellent home mortgage calculator plus home buying tips
Published by Andrew Watson on December 30th 2011 | Finance
For a number of people it certainly is very much common to look around for best mortgage calculator....
Bad credit and mortgage refinance option
Published by Kam Brar on December 16th 2011 | Finance
As people think, it is not easy to get mortgage refinance with bad credit. There are various factors...
Get out of a bad credit mortgage situation
Published by Jack Smith on June 20th 2012 | Mortgage
If you need a bad credit mortgage, there is no doubt that you are in a tight fix. But bail yourself ...