BiggerPockets Daily Nine Legitimate Ways to Lower Your Mortgage Rate in Today's Market
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Aug 29, 2025 Discover practical strategies to lower mortgage rates in today's market! Learn about timing your rate locks and utilizing adjustable rate mortgages. Explore how 1099 income impacts applications and the benefits of the 2-1 buy-down option. Dive into debt-to-income management and discover innovative approaches like house hacking. This insightful discussion offers essential tips for both buyers and aspiring real estate investors aiming for financial independence.
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Lock Rates Midweek
- Lock your mortgage midweek to capture slightly lower published rates.
- Wednesday locks can save roughly 0.15% compared to Mondays, adding meaningful lifetime savings.
ARMs Offer Short-Term Rate Relief
- ARMs often start about 1% below a 30-year fixed, making them attractive for short holds.
- They carry risk if rates spike when the fixed period ends, so weigh the refinance or sale plan.
Boost Score And Down Payment
- Improve your credit and put 20% down to get the best conventional rates and avoid PMI.
- Aim for a credit score above 740 to access the most favorable pricing from lenders.