Tips for Finding the Best Mortgage Rate on Your Santa Cruz Home

Posted by Lauren Spencer on Wednesday, June 26th, 2013 at 1:01am.

Taking the time to hunt around for a better mortgage rate on your Santa Cruz home could save you thousands of dollars in the long run. Recently mortgage interest rates have been at record lows, which mean that you have a chance to secure a great rate. All you need is to do a little bit of research, take the time to compare prices and ensure that you are getting the best rate.
Here are some tips for finding the ideal mortgage rate for you:

Improve Your Credit Score

The better your credit score, the better rates will be available to you when looking for a mortgage. However, if you have bad credit there is no need to panic; there are many ways that you can improve your credit score before searching for a mortgage.
Start by ordering your credit report so that you know where you stand. This information is free and can be ordered online. You should check it carefully for mistakes and then work toward making sure that your existing debt is paid down. Create a budget and stick to it so that you can eliminate your debt and improve your score and therefore your mortgage rates.

Save Up a Big Down Payment

Many lenders are willing to offer lower mortgage rates for customers who are able to put down a significant down payment on the home. If you can save up more than 20 percent for a down payment, you will likely be able to negotiate for a much better rate. You will also save a lot on interest over the years because the mortgage amount will be less.

Talk to Your Mortgage Lender

Sit down with your mortgage lender and negotiate with them. Let them know what you are looking for and see what they are willing to offer. You might be surprised to find that your mortgage lender is flexible and is willing to arrange something that suits your needs.

Taking the time to find the best mortgage rate on your Santa Cruz home mortgage takes a while, but when you find it you will be able to enjoy the benefit of savings for as long as you own the home.

If you have any more questions about buying your home, feel free to contact me at 831.662.6522 or email me at

For additional real estate services, please visit my home page at


significant down payment
ordering your credit report
Create a budget

About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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