Your interest rate never changes. If you start at 6%, you stay at 6% for the next 15 or 30 years. It’s predictable and safe.
This is your financial "reputation." A higher score usually unlocks lower interest rates, which can save you tens of thousands of dollars over the life of the loan. buying a house mortgage
Once your offer is accepted, you enter the "underwriting" phase where the bank double-checks everything. On closing day, you’ll sign a mountain of paperwork, pay your closing costs (usually 2–5% of the home price), and finally get the keys. Your interest rate never changes