How can I secure a low mortgage interest rate?

Securing a low mortgage interest rate helps make your monthly payment more affordable and saves money over the life of your loan. Besides using a large down payment, here are the three things to do to secure a low mortgage interest rate: 

• Compare multiple lenders and meet with your top three. Review the application process and your credit report to start working on any issues you may have. The higher your credit score, the better prospect for a lender you will become. Lenders will review the various loan programs with you.

• Your debt-to-income ratio should be below 36 percent before you apply for a mortgage. The lower it is, the greater your eligibility for a higher loan amount.

  
  

• Don't make any drastic changes such as changing jobs or making large purchases on credit cards. You want lenders to see you have a stable job history and ability to make the payments.