How to Get the Best Interest Rate on Your Mortgage

To secure the best mortgage interest rate, understand the impact of factors like credit score, income type, and debt ratios. Insured mortgages typically offer lower rates, while uninsured ones are slightly higher. A credit score above 680 is preferred by prime lenders, while B lenders accept lower scores but at higher rates. GDS and TDS ratios help lenders assess affordability; aim for a GDS below 39% and TDS below 44%. Improving your credit score, reducing debt, and organizing financial documents can enhance your chances of obtaining competitive rates.