Overview

• Refinancing can lower monthly payments but may involve significant costs and long-term financial considerations.
• Down payments vary by loan type, with some options allowing as little as 3% or even no down payment for eligible borrowers.
• Improving your credit score and comparing lender offers are key strategies for securing lower mortgage interest rates.
• VA and USDA loans offer zero down payment options but come with specific eligibility requirements and potential fees.
• Evaluating your financial situation and future plans is crucial when deciding on the best mortgage strategy.