Get a Better Interest Rate

Factors That Affect Interest Rates


Increases Interest Rate Decreases Interest Rate
The term of the loan increase The Credit Score (FICO) rises
The less you pay "out of pocket" in closing costs (including broker/lender fees) The down payment amount for a purchase transaction increases
The total monthly debt service compared to income (Debt-to-Income ratio) increases The loan amount as compared to the value of the property (Loan-to-Value) for refinance transactions decreases
The loan is used to take cash out of the property as opposed to refinancing the loan to lower the interest rate and/or payment