New Mexico mortgage loan rates
Interest rate fluctuations are not as mysterious as they seem. Certain factors influence them including the loan type, loan amount, and how you’re perceived as a credit risk. Your risk depends on how much debt you already have, your income, and your history of using credit. If a lender feels you’re likely to repay debt based on its analysis, you’re considered a low risk. That likely will entitle you to more favorable interest rates. Also, a low dollar amount fully amortizing mortgage that doesn’t include a balloon payment usually offers low rates.
