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 What do you do if you cannot get a low mortgage rate? When you get
a loan – no matter what type of loan it is – your goal is to get a low
interest rate. Like personal and auto loan rates, mortgage rates fluctuate. Not too long ago, they were at an all time low. Recently, they have been on the rise. If you already own a home, depending upon when you purchased your house, your mortgage rate may not be as low as you would like. You may be paying a higher payment than you would like to make each month. If that’s the case, you should think about refinancing your existing mortgage. You may qualify for a low mortgage rate. The new loan will pay off your existing mortgage, your monthly payment will be lower, and you will save thousands of dollars over time. But what if you are shopping for your first home? What if you cannot get the low mortgage rate that you had hoped to get? This happens to a lot of people. Their credit may not be perfect, and they may not qualify for a prime rate. You could pass up that home of your dreams and hope that one just as nice, if not nicer, comes along at a later date, when your credit score is better. Or, you could lock in at the higher rate and refinance when your credit improves and mortgage rates have dropped. . Low
Mortgage:
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Whether
you are obtaining a personal loan, an auto loan, a home loan, or even a credit
card, you want your rates to be low. This ensures that your payment will fit nicely
into your budget and that you will save money over the course of the loan. What
do you do if you cannot get a 
