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Buying a home is an exciting experience, however, you must be sure that you are doing everything you can to be sure that the overall costs of the home are going to be affordable for you. The first step to ensuring this is looking at home loan rates that are available to you and checking which loan is going to provide the best rate for you and your family over the next 15 or 30 years. Here are four things to consider when looking at home loan rates in your area:

1. Choosing an Adjustable or Fixed Rate:  When you are looking at home loan rates, the interest rate is important to consider. A low-interest rate is always more desirable because it means you are paying the least amount on the cost of the home over time. Adjustable rates typically provide low up-front interest rates, but over time, this number can change based on the interest rate index determined by the bank. This means your interest rate can be significantly higher at some point, so you must be sure that you are comfortable with this. A fixed rate is just that. It's an interest rate that is not going to change, so be sure it's a rate you are happy with. Keep in mind that you can always refinance in the future, which can lower your interest rate. 
2. Paying for Points:  When you receive a home loan, you have the option to pay for points. This means that you are paying a certain amount that is going to reduce the interest rate. Of course, it won't reduce the rate significantly, but it will slightly, which benefits those who plan on keeping their home loan for a long period of time. If you don't believe that you will be living in the house for more than 10 years, then paying for points may not be worth it in the end. 
3. Using a Special Program: There are plenty of special programs that you can consider when shopping for a home loan. For example, if you are a first time home buyer, you qualify for an FHA loan or if you are a veteran, you qualify for a VA loan. There are other special programs that you may qualify for. It's important to determine what programs these are because they can benefit you significantly when it comes to purchasing a home.
4. Paying a Down Payment: The benefit of paying a large down payment on your loan is that you are going to have a lower interest rate. This is why it's best to save up at least 20% for the down payment in order to save even more on the cost of the home in the long run. 

When you consider these four things, you can be sure that the home loan rate you receive is one that you are comfortable with and prepared to pay for long term.