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Best Home Loan Rate Laguna Beach

One of the most important parts of getting your home loan will be learning how you can get the best rates. When you look at the numbers, during a 30-year loan, there might be a difference of a 4% interest rate versus a 3.75% interest rate that could save you $5,000 for each $100,000 that you are borrowing. With larger loans and interest rate differences, it is easy to see how crucial it is to look for the best home loan rate in Laguna Beach.

There are some things that you and every potential buyer should know about mortgage rates, and it all starts with getting the right lender. Here at McLellan Team, we are some of the best lenders in Laguna Beach, and we are ready to help you get the right rate for your loan.

Getting the Right Rate from Trusted Lenders

Regardless of where you start or whether you are going for your first mortgage or third, these are some of the best tips to help you save money:

  1. Always check your credit report and scores – One of the ways you can work on getting the best home loan rate in Laguna Beach is by being mindful of your credit scores and everything listed on your credit report. This means signing up for free credit reporting with a reputable website that gives insight on your TransUnion, Experian, and Equifax details.

    When reviewing your credit report, look for anything dragging down your score. If there are any blemishes or mistakes on there, you can file disputes to remedy the issue.
     

  2. Save for a down payment – If you make a smaller down payment on your new home, the lenders may consider you a high-risk borrower over someone with a larger down payment. The more of your own funds you can invest in your property, the less of a risk you will seem to the lender. In return, they may offer you a better loan rate. However, there could be special circumstances for having a down payment for VA loans and other options that you can look into.
     

  3. Look into a shorter loan term – Should you take out a 15yr fixed-rate mortgage rather than a 30yr fixed-rate mortgage, your interest rate could be lower. You may also want to look into an adjustable-rate mortgage that gives a lower introductory rate than what you may find with a fixed-rate option. It all depends on the market, so you want to work closely with your lender to find what works best for you and your needs.

Are you interested in California refinance rates for your current home mortgage? Will you be purchasing your first home, and you want to be sure that you can lock in the best home loan rate in Laguna Beach? You have options, and we are happy to show them to you here at McLellan Team! Get in touch with us today so that you can start your loan application, or a member of our staff can address questions or concerns you have. You can reach us by calling (949) 669-1100.