The right mortgage can save you tens of thousands over 30 years. Use these eight pro-level moves—before you apply—to lock a lower rate, dodge junk fees, and keep more cash for moving day.
1 · Polish your credit 90 days out
Pay down revolving balances below 30 % utilization, dispute any errors, and pause new credit pulls. A 20-point FICO bump can shave 0.125 %-0.25 % off your rate.
2 · Collect three Loan Estimates on the same day
Mortgage quotes are only comparable if they’re pulled within 24 hours—markets move. Compare the APR and Section A fees to see true cost.
3 · Shop on a Wednesday
Secondary-market spreads (MBS) often tighten mid-week. Lenders adjust retail rates the following morning—historically Wednesday quotes run 2-5 bps lower.
4 · Time your rate-lock to 30 days (not 60)
A 30-day lock can be 0.125 % cheaper than a 60-day. Gather docs, inspection, and appraisal first, then lock when you’re sure you can close inside a month.
5 · Ask for a “lender credit” in exchange for a slightly higher rate
If cash at closing is tight, taking a rate 0.125 % higher can produce a credit that wipes out thousands in origination fees—worth it for short stays.
6 · Verify the break-even on discount points
Divide point cost by monthly savings. If the break-even exceeds the years you expect to keep the loan, skip the points.
7 · Ask if re-casting is allowed
Some lenders let you make a big lump-sum payment later and re-cast (re-amortize) the monthly, without a full refinance. Great after a big bonus or home sale.
8 · Check state & local down-payment assistance
Even “middle-income” buyers can qualify for grants or forgivable seconds.
Search HUD local DPA + your state to see programs.
Pro move: ask each lender for a “complete fee worksheet” in addition to the Loan Estimate— it reveals third-party charges that often hide in Section C.