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How does the interest rate factor in securing mortgage financing?

April 26, 2017Factor financing Interest rate mortgage SECURING

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How does the interest rate factor in securing mortgage financing?

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A lower interest rate allows you to borrow more money than a high rate with the same monthly payment. Interest rates can fluctuate as you shop for bad credit mortgage financing, so ask lenders if they offer a rate “lock-in” which guarantees a specific interest rate for a certain period.