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Now that you've saved up for the down payment for your new home, it's time to consider the options available to you for home loan rates.

The most obvious way to get the best home loan rates is with good credit and a good employment history. But, there are several other options to get the best home loan rates.

4 Helpful Tips On Getting The Best Home Loan Rates

1. Professional Package Discounts. If you are making more than $50,000 a year, or have a spouse and you are making $80,000 or more a year, ask about the professional packages. Home loan rates are usually discounted by 0.5% on the loan you choose.

2. Beware of Fixed Rates. When home loan rates are rising, a fixed interest rate may be attractive. Having a fixed-rate home loan will lock you in for a fixed-term and can be less flexible than variable-rate home loans. Fixed-rate home loan interest rates are for borrowers who value the certainty of knowing exactly what the future payments will be. Investors and home loan borrowers on tight budgets, like fixed interest rates. When a borrower tries to beat interest rates that are rising by picking the right time to lock into fixed interest rates, they are taking a risk in hopes home loan rates will go up in the future.

3. Credit Unions and Community Banks. You can get some of the best home loan rates from credit unions and community banks because they are anxious to earn your business and are competing with big banks.

4. Comparison of Home Loan Rates. Home loan lenders must now include "comparison rates" in their advertisements for their home loans to help consumers to see what the total cost would be with fees and interest. It's best not to rely solely on comparison home loan rates. They don't know what the best home loan is for your financial situation. Only you can decide on what the best home loan rates are for your circumstances.

Take Advantage Of Today's Internet Tools And Resources

With today's Internet resources, tools and information, the consumer has an advantage when shopping for the best home loan rates. Take time to get educated on the options available for the best home loan interest rates and you can save yourself thousands of dollars on the home loan rates available. Take time to sit down and research all the options and you will know you've made the right decision on your home loan rates.