When applying for a home loan, how do you know what interest rate you will have? is it the one from when you apply for the loan, or is it whatever the rate happens to be the day they fund the loan?
The answer is not in your options. When applying for a home loan, the lenders(most likely banks), based the interest rate on your credit score. If you have a good credit score, you can make a good deal and your interest rate would be lower.
The interest rate on loans is not fixed. The bank will get your credit report and they will review your score. You can deal for a low interest rate when your score is high.
