With all the expenses in life and how the economy has been the last couple of years, you want to be sure that you limit the expenses that are within your control. If you’re looking to refinance or buy a new home, the mortgage rate you get is surprisingly one of them. Here are three things that can affect your mortgage rate that you have some control over.

Getting a great mortgage rate is more in your hands than you think!

Your Credit Score- the higher your credit score, the better chance you have of scoring a lower mortgage rate. If your score is low, you need to do better when it comes to repaying student loans or other debts.

Your Job History- having the same job or being in the same industry for at least two years is a great start. Lenders want to see a stable job history. If you’ve been a victim of the economy and have had to change jobs or were unemployed for a time, work the two years and then begin the home search if it can wait.

Your Assets and Savings- lenders are aware that sometimes the world conspires against you. That’s why they want to see that you have four to six months of expenses saved up for emergencies. This shows that should the universe stop going your way, you still have a means of paying your mortgage. Not there yet? Try saving ten percent or more of each paycheck with an LSB savings account.

At Lincoln Savings Bank, we offer our customers the Mortgage 100 Percent Guarantee for conventional and FHA Fixed Rate residential mortgages. Through this offer, if we don’t meet the closing date we set for your mortgage, we’ll make the first payment for you! Certain limitations apply, so be sure to call your LSB Mortgage professional for all the details.

We look forward to helping many of you with refinancing or getting a mortgage as the spring home purchasing season continues. If you need a friend when it comes to your mortgage needs, look no further than Lincoln Savings Bank!