HomebuyingRefinanceIndustry NewsFeatured June 11 2019

Mortgage Rates are Trending Downward

As the world watches for clues about the direction the economy is going, the somewhat volatile stock market continues to have a positive impact on mortgage rates - but no one is quite sure how long that will last. According to Freddie Mac, mortgage rates have continued to trend downward, and the 30-year fixed-rate mortgage is now near a 2-year low.

What can that mean for you?

Rates for home loans are changing constantly and are difficult to predict. If you’re considering purchasing or refinancing a home, now may be the perfect time to do so.

The rate that you qualify for is determined by looking at a number of different factors. This is known as risk-based pricing. When a lender approves a borrower for a loan, they trust that the borrower will be able to pay back the amount financed. In order to determine how risky a borrower might be, lenders will consider a number of things.  These include your credit score, loan-to-value (LTV) on the property, property type, the size of your down payment, and the actual loan type you choose. Learn more about how your interest rate is determined.

Your Credit Score

Your credit score is the key to getting the best rate on your mortgage. Scores above 740 will often qualify you for the best mortgage options, higher loan amounts and lower interest rates. As your score decreases, the riskier you seem to a lender.

The good news is that there are a ton of options out there for people with credit scores under 740, but you’ll likely be paying some higher interest rates. If you’re unsure about whether you can qualify or not, check out our ebook, A Guide to Understanding Your Credit.

Mortgage rates are changing every single day, but they have remained in the lower range for quite some time now. If you’re in the market for mortgage financing, it may make sense to go ahead and get pre-qualified. You can get started with Eagle Home Mortgage’s Digital Mortgage, where you can automatically connect your bank statements, tax records and income documentation in just minutes.

Search Results for query

October 30 2020

Do You Need a Long-Term Mortgage Rate Lock?

When buying a home, this rate-protection agreement can save you money.

Read More

October 21 2020

What is an FHA Loan?

For borrowers with tight cash or tricky credit, an FHA loan can be the answer. But not every situation is a good fit for these mortgage loans. Find out if one is right for you.

Read More

October 07 2020

Homebuyer Solutions: Making Dream Homes a Reality

Our Homebuyer Solutions Group helps successfully secure financing for homebuyers with credit challenges.

Read More

September 30 2020

20 Easy Ways to Turn Your House into an Autumn Sanctuary

Here are 20 cozy, simple ways to decorate for fall.

Read More

September 24 2020

Conforming vs. Nonconforming Loans

When financing your new home, there are just a few things you need to know about the types of loans you might be choosing from.

Read More

September 16 2020

Online Closing Options: Closing Faster, Smarter, Safer

Health concerns, purchasing out of state, or other life interruptions can make closing in person difficult — and that’s why we’ve created two new options for borrowers, our Eagle Express Close and Remote Digital Closing Experiences.

Read More

September 02 2020

6 Cheap and Easy Ways to Increase Your Home Value With Curb Appeal

There are several affordable, DIY curb appeal options to increase your home value that can get you some serious sweat equity.

Read More

August 25 2020

6 Pieces To Brighten Up Any Room

Lighting and fixtures we use in our homes can be utilized to reflect our mood and create ambiance. This can be done by understanding the types of lighting, how they can be used and what mediums they best compliment.

Read More

August 03 2020

Laura Escobar Named 2020 Woman of Influence

Eagle Home Mortgage President Laura Escobar has been named one of HousingWire’s Women of Influence 2020.

Read More

12345Last

Mortgage Calculators

Crunch the Numbers With Our Helpful Mortgage Calculators

Payment Calculator

payment calculator

Payment
Calculator

Affordability Calculator

affordability calculator

Affordability
Calculator

Refinance Calculator

refinance calculator

Refinance
Calculator

The Modern Digital Mortgage with a Personal Touch

Paperless. Effortless. Awesomeness TM

Simplify the home financing process with our Digital Mortgage. We'll be here to help navigate you through the entire process.

Get Pre-qualifiedWhat is a Digital Mortgage?