Factors Affecting Home Loan Interest Rates

Buying a home often requires a home loan.

The interest rate on this loan affects how much you pay each month and overall.

There are two main types: fixed rates, which stay the same, and floating rates, which can change.

Your credit score, job type, and market conditions influence the rate you get.

It's important to check your credit score, compare loan options, and plan your repayments carefully.

Understanding these factors helps you make better decisions when applying for a home loan.