Trying to get a great interest rate on your mortgage loan is essential if you want to save the most money over time. Lenders make billions of dollars each year on interest alone. If you want to get the best home mortgage rates out there, you should do a few things to prepare before applying for a loan.

1. Clean up your credit! If you’re considering applying for a mortgage loan, it’s best to take about six months to clean up your credit. Pull your free credit report and look over it carefully. Take note of any incorrect items on the report and notify the credit bureaus if there are any inaccuracies. Your credit report weighs in a lot when it comes to qualifying for an interest rate, so having a better credit score will benefit you over time.

2. Reduce your debt! Another thing mortgage companies look at when you apply for a loan is your debt to income ratio. The lower your debt is the better off you’ll be. Work at reducing your debt to nothing, especially if it’s unsecured debt. Credit card debt and other unsecured loans will only make your interest rates rise during the application process.

Choosing to get a mortgage loan is a big deal! You should be sure you’re well prepared to get the best rate possible. After all, a typical mortgage loan lasts for 30 years. You don’t want to be stuck paying more interest than you’d like for that lengthy amount of time.