FHA mortgage rates are lower than conventional ones for applicants with "dinged" credit, and FHA loans allow credit scores down to 580. 2) Down payment: You get a lower down payment option with.Lowest Mortgage Interest Rate Mortgage points are a fee you can pay at the start of the mortgage to lower your interest rate for the duration of your fixed-rate mortgage. Each point costs 1% of your total loan amount. The interest rate reduction depends on the lender, but it is common to lower your interest rate by 0.25% in exchange for every point purchased.
