A high credit score is essential for securing favorable mortgage rates, with scores in the 700s typically qualifying for the best offers. Increasing your down payment can also lower rates and eliminate private mortgage insurance. It's important to compare rates from various lenders, including local banks and online options, to find the best deal. Strategies like buying mortgage points and timing your rate lock can further enhance savings. Ultimately, even small differences in interest rates can lead to significant long-term savings on mortgage payments.
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