Credit Score: A higher credit score often leads to a lower interest rate. Lenders view borrowers with good credit as less risky.
Down Payment: A larger down payment can result in a better interest rate. It shows commitment and reduces the loan-to-value ratio.
Loan Term: Shorter loan terms (e.g., 15 years) tend to have lower rates than longer terms (e.g., 30 years).
Type of Mortgage: Adjustable-rate mortgages (ARMs) may offer lower introductory rates initially, but they can change over time.

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