As a home loan borrower, how to keep interest rate low?

As a mortgage borrower, there are a few things you can do to try to keep your interest rate low: Shop around and compare rates:

Different lenders may offer different interest rates, so it's important to shop around and compare rates from multiple lenders before choosing one. You can use online mortgage rate comparison tools or speak with a mortgage broker to help you compare rates and find the best deal.

Consider a shorter loan term: Generally, the shorter the loan term, the lower the interest rate. So, if you can afford the higher monthly payments, choosing a 15-year mortgage instead of a 30-year mortgage may help you get a lower interest rate.

Make a larger down payment: A larger down payment can help you qualify for a lower interest rate, as it reduces the amount of money you need to borrow and the risk to the lender.

Improve your credit score: Your credit score is a key factor that lenders use to determine the interest rate they will offer you on a mortgage. The higher your credit score, the more likely you are to qualify for a lower interest rate. So, if you have a low credit score, take steps to improve it by paying your bills on time, reducing your credit card balances, and avoiding applying for new credit.

Overall, shopping around, choosing a shorter loan term, making a larger down payment, and improving your credit score can all help you qualify for a lower interest rate on a mortgage.