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FIVE things that impact your interest rate

Updated: Apr 9, 2020

Think your credit score is the only thing that impacts your interest rate? Think again.


Below are the 5 demographics that impact your interest rate. The sub-categories of each demographic are listed in order from LOWEST to HIGHEST risk. The sub-category highest in the list represent the lowest risk to the bank and corresponding the best interest rate pricing.


1. Occupancy Type

*Owner Occupied / Primary

*2nd Home/ Vacation Home

*Investment Property / Rental Property

2. Property Type

*Single family home/ SFR/ House

*Condo (Low Rise, Mid Rise, High Rise)

*Townhouse

*Twinhome

*2 unit/ Duplex

*3 unit / Triplex

*4 unit

3. LTV (Loan to Value Ratio)

*0%-100%

4. Transaction Type

*Purchase

*Refinance - Rate & Term (no cash out)

*Refinance- Cash Out

5. Credit Score

*300-850

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