The collapse of major financial companies in 2008 and 2009 has made it more difficult to obtain a mortgage. But for those who do qualify, interest rates have been at their lowest in years.
There are a few steps you can take to ensure you get the lowest mortgage rate:
● Obtain your credit report and fix any errors
● Stay within your price range – it’s attractive to take a mortgage out for more than you can afford, and even if a bank offers to lend you that much money, turn them down for the more affordable alternative.
● Tell your lender you want a fixed rate mortgage. Some of the technical jargon can get confusing, but in the long run an interest rate that doesn’t change (unless you refinance) is the best choice.
A good place to get started is right here on Seattle Banking Rates. We’ve developed relationships with national and local banks to help bring the lowest mortgage rates in Seattle right to your fingertips.