By Daniel Bortz
From Kiplinger’s Personal Finance
Looking to purchase a home in this market? Take these steps to qualify for the best mortgage rates.
- Increase your down payment
To qualify for the lowest rates on a conventional loan backed by Fannie Mae or Freddie Mac—the nation’s two largest mortgage buyers—you’ll need a 20 percent down payment, says Melissa Cohn, a regional vice president at William Raveis Mortgage, based in Shelton, Conn.
