• Loan-to-well worth proportion: A keen LTV proportion measures up the borrowed funds dimensions on property’s purchase rates. Generally, a top down-payment often decrease your LTV and relieve new lender’s risk as amount borrowed try quicker. This can help you score a lower interest rate.
• Home loan length: Going for a shorter mortgage identity, such as for instance fifteen years, decreases the lender’s chance given that you happen to be settling the loan more than good shorter schedule. Continue reading →