Episode 07 | Factors that Determine your Interest Rate

In this episode, the speakers discuss the factors that determine interest rates in mortgages. They emphasize the importance of credit score, down payment amount, and loan type. They advise listeners to monitor their credit score, make payments on time, and establish credit history. They also mention that different loan types have different credit score requirements and may offer better rates for lower credit scores. The speakers highlight the need to consider multiple factors, beyond just the interest rate, when choosing a mortgage. They also discuss mortgage-backed securities, inflation, working with a trustworthy lender, timing of locking in an interest rate, buy downs, and fixed vs adjustable rate mortgages.