BiggerPockets Daily Ways to Lower Your Mortgage Rate Without Waiting For the Market
Nov 30, 2025
Unlock the secrets to lowering your mortgage rates without waiting! Discover why holding out for drops can cost you equity. Learn about midweek rate locks that can shave 0.15% off your rate and how ARMs can benefit short-term holds. Maximize your credit score and down payment for the best rates, and negotiate seller credits to buy down costs. Consider local banks for personalized deals and explore 2-1 buydowns to ease payments. Plus, house hacking tips to leverage rental income make smart financial moves easy!
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Lock Midweek For Slight Savings
- Lock your mortgage rate midweek to often save up to ~0.15% compared to locking on a Monday.
- Over a $400,000 loan this can reduce total interest by roughly $12,000 over the life of the loan.
Use Short-Term ARMs For Short Holds
- Consider a short-term ARM if you plan to sell or refinance within the fixed period to lower initial monthly payments.
- Weigh the risk that rates could rise sharply after the fixed term, making this a speculative choice.
Boost Score And Put 20% Down
- Maintain a credit score above 740 and at least 20% down to access the best conventional rates and avoid PMI.
- Prioritize upfront strength over immediate leverage to reduce financing costs long-term.