When you are ready to buy your home, you want to make sure that you are getting the best possible bay area mortgage rates. The way to do this is to shop around and review all of your financial options. Not all banks or mortgage brokers are the same when it comes to settling the terms of a mortgage, so you need to examine your options carefully.
These rates are normally determined by a variety of factors, such as the current housing climate, the lending policies of the particular bank or broker and your own personal credit history. The higher your credit score, the better chance you have of securing a favorable interest rate.
You also need to review the lending policies of the institution who will hold your mortgage. An interest rate that is only one or two percentages points difference can save you thousands each year, so ensure that you are getting the best deal possible.