Taking out a mortgage loan to buy a house puts you in a long term commitment. If you're not satisfied with a mortgage loan you've been offered, you need to take a step back before committing to it to analyze the situation. 

Chances are, you can find a loan with lower interest rates with a bit of perseverance and patience. The following are five things you can do to bring down the mortgage rates you've been offered after an initial loan inquiry:

Pay more upfront

By putting a larger down payment on a home, you can enjoy lower interest rates because you'll be borrowing less money. 

If you can afford it, paying more money upfront when you purchase a home is one of the quickest ways to bring down your mortgage rates. Explore the possibilities by asking your lender what your rates will be with several different down payment amounts.

Take some time to pay off your debt and try again

The lower your debt-to-income ratio is, the easier it will be for you to make payments on any outstanding loans or credit accounts you have.

Lenders know this, and they consider you to be less risky as a borrower if your debt-to-income ratio is low. They'll therefore typically be more willing to offer you lower interest rates on your mortgage loans. 

By having patience and taking some time to pay off your debt before buying a home, you could end up with a lower interest rate and a less expensive mortgage loan. 

Plan to refinance after a few years

The mortgage rate you get when you initially buy a home is not necessarily what you'll have to pay until you own the home outright. It's always an option to refinance down the road.

When you refinance, you take out a second mortgage that allows you to pay off your first mortgage and begin making payments on a second loan with a lower interest rate.

See what type of deal you can get with a FHA loan

The Federal Housing Administration offers special loans to qualifying Americans that can allow them to save a great deal on interest. Visit the FHA website to learn more about borrowing opportunities and to see if you qualify. 

Consider a shorter mortgage loan term

When you take out any kind of loan, the interest you pay is a charge for the fact that you owe money over a given period of time. If you shorten the period of time that you owe money, you usually can enjoy a lower interest rate.

Ask your lender what the interest rate will be on a loan you've been offered if you pay it off early or agree to a shorter loan term. Talk to someone from a place like First Mortgage Company, Inc. for more information.