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How are mortgage interest rates determined?

The annual percentage rate (APR) you get is based on a range of factors. You can find out what rate you’re likely to get during the mortgage pre-approval process.

Here are a few things we’ll consider when offering you a great rate:

  • Your credit score and repayment history
  • Your debt-to-income (DTI) ratio
  • Your loan amount or loan-to-value (LTV) ratio
  • Your preferred loan term (shorter terms get lower rates)