Myth or Fact – The larger the down payment you offer the lower your interest rate may be

“Ever heard this one?”

Sounds like something your uncle might say at a backyard BBQ after his second plate of ribs…

“Put more money down and you’ll always get a better rate.”

But here’s the truth:

✅ Lenders do tend to reward lower-risk borrowers with better rates — and yes, a bigger down payment can reduce risk.

BUT that’s not the full picture.

Your rate also depends on your:

Credit score
Loan type
Debt-to-income ratio
…and several other factors.
💡 Sometimes, the smartest move isn’t putting more down — it’s keeping cash on hand for unexpected repairs, upgrades, or life’s curveballs.

Want help figuring out what’s right for you?
Let’s ditch the myths and build a game plan tailored to your goals.

— Ivory & Melanie, proudly serving West Jefferson, NC and neighboring communities as your friendly, local mortgage experts 🏡

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