Find Today’s Best Mortgage Rates with Ameritrust

Your mortgage interest rate directly affects your monthly mortgage payment. A lower interest rate means a lower monthly payment, while a higher interest rate means a higher monthly payment.

Yes, you can negotiate your mortgage interest rate with your lender. However, it's important to keep in mind that not all lenders may be willing to negotiate, and your credit score and financial history will also play a role in the interest rate you're offered.

Several factors determine the interest rate you're offered, including your credit score, loan amount, down payment, loan term, and the type of mortgage you choose.

Yes, you can lock in your mortgage interest rate with your lender. Locking in your rate means that the interest rate is guaranteed to remain the same for a certain period of time, usually 30 to 60 days.

The amount you can save by getting a lower mortgage interest rate depends on several factors, including the size of your loan, the term of your loan, and the interest rate difference. A lower interest rate can save you thousands of dollars over the life of your loan.

The APR, or annual percentage rate, is the total cost of your mortgage loan, including the interest rate and other fees and charges. It gives you a more accurate picture of the total cost of your loan compared to just the interest rate.

It's possible to get a mortgage with a low credit score, but it may be more difficult and you may be offered a higher interest rate. Working to improve your credit score before applying for a mortgage can help you get a better interest rate.

The time it takes to get approved for a mortgage can vary depending on several factors, including the lender's process and your individual circumstances. On average, it can take anywhere from a few days to several weeks to get approved for a mortgage.