Montana Mortgage Rates 


 Interest rates in Montana generally follow national trends with a few exceptions. Mortgage rates are variable depending upon a few factors. If you are looking for the best interest rate for your situation, Integrity Mortgage understands these factors and can walk you through the process to get the best possible interest rate for your mortgage.

Mortgage interest rates follow the yields of the bond markets in a general manner.As the yield on the ten year bond goes up so does the interest rates. The same applies to a falling yield in the bond market, so that will that cause interest rates to trend down. This yield movement reflects concern for the economy and also can indicate future inflation trends.

The first thing that lenders look at is your credit rating. 

Three major things affect your credit. Your history of payments, how long you have managed your credit in a positive or negative way, and what your balances are in relation to your credit limits. Sixty plus factors are used to give you a credit score called a FICO score, but with experience and credit tools we have found that the above three factors affect you the most. The ideal credit score to get the best rates is now 740 or more. If you have a credit score below that we at Integrity Mortgage can provide you with an action plan you can take to increase your score. Sometimes it is a process that takes years, other times we can target specific ways to fix your credit or pay down accounts to quickly increase your credit rating score. When we pull your credit report we will take the time to give you a strategy of credit improvement that will work for you.

Interest rates are also affected by value of the property verses how much your loan will be. Also known as LTV or loan to value ratio.

The higher your loan to value the higher your interest rate and credit risk is.
If you need 80% of the value of your home to refinance and pay off credit card debt and you have a lower credit score of 679 verses a higher credit score of 740, it will affect your interest rate substantially. As you can see managing your credit rating is very important.
How much your house appraises for does affect the interest rate you receive.

Integrity Mortgage pledges look for the best market interest rate possible in your situation, whether you are refinancing your current home or wanting to purchase your first home. Let us use our 15 years of mortgage lending experience to find the best options for you!
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