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Consumer handbook on adjustable rate mortgages Fixed rate loans are a good choice if you: Like the current rate and want to keep it for the life of your loan A mortgage bad credit borrowers can qualify for usually comes with higher interest rates and more points than any mortgage for people with great credit. One of the most important things to do before you make an application is to verify your credit rating. Next, find out the value of your property in reference to how a lender would see it. And then do the research – lender and rate comparisons. You’ll need to figure out your debt-to-income ratio to see if you can take on another loan. Then ask yourself if a mortgage is going to be a realistic choice that offers relief and not more angst! Useful tools at your fingertips like mortgage lender rates, points and programs that are updated continuously as well as informative articles on mortgages and mortgage terms are readily available for your convenience. 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