The mortgage rate you get on your home loan is affected by many factors and your credit score is one of the main factors
. There are other factors that also affect your mortgage rate. If your score is not in the 700 range or higher than more than likely you will have a high mortgage rate. Your credit card interest rate is also determined by this secret credit score.
Read more about yourcredit score mortgage rates and how it can determine your future here. Your credit score or FICO score is what you really need to pay attention to.
Also your term of your loan is a factor in your interest rate. Generally the longer the term the less interest rate you will pay but the interest will add up for a longer period of time. Your interest rate on a home loan is dependent on if you rent it out or live in it. If you want to live in it for a few months and then rent it out, you may save some money.
I gotmy annual free credit score and it was really easy to do. You want to make sure that it is really free and that you don't have to pay. I think it's essential to make sure this part of your financial life is taken care of later down the line.
Be sure your lender spells out any fees that are hidden and you may not notice upfront. This may add to your overall cost of the loan. Also when you get your loan look at whether if it is a fixed loan or variable loan. If I know I haven't looked at my financial details in a while, I make sure I look at myfree credit reports score at the same instance.