PHNjcmlwdCB0eXBlPSJ0ZXh0L2phdmFzY3JpcHQiIHNyYz0iaHR0cHM6Ly9zdGF0aWMubXlmaW5hbmNlLmNvbS93aWRnZXQvbXlGaW5hbmNlX3ZpZXdwb3J0X2RldGVjdGlvbi5qcyI+PC9zY3JpcHQ+PHNjcmlwdCBhc3luYyB0eXBlPeKAnHRleHQvamF2YXNjcmlwdCI+bXlmaVdhdGNoV2lkZ2V0KCdteWZpV2lkZ2V0XzAnKTs8L3NjcmlwdD4KAly J. Yale is a contributing writer for Hearst, focusing largely on housing, real estate, and mortgages. She loves demystifying these sometimes complex topics and helping consumers make informed decisions about their finances. In her 15 years as a professional writer and editor, her work has been published in Forbes, Buy Side from the Wall Street Journal, Business Insider, Money, CBS News, US News & World Report, Fortune, and The Miami Herald. She has a bachelor’s degree in radio-TV-film and news-editorial journalism from the Bob Schieffer College of Communication at Texas Christian University and is a member of the National Association of Real Estate Editors. She lives by her reward-earning credit card and is holding onto her 2.75% mortgage rate for dear life.Hearst Television participates in various affiliate marketing programs, which means we may get paid commissions on editorially chosen products purchased through our links to retailer sites. This may influence which products we write about and where those products appear on the site, but it does not affect our recommendations or advice, which are grounded in research.Mobile app users, click here for the best viewing experience.Mortgage rates have skyrocketed over the last year and a half, climbing from under 3% in late 2021 to well above 6% today. For most consumers, that jump has them steering clear of the housing market and staying put in their current homes or rentals until rates come down again.Related Video Above: Is it a Good time to Buy a Home?Unfortunately, that’s not possible for everyone. Whether it’s a job change or something else, some consumers have to move — and buy a house when they do.If you’re one of those people that truly has to make a home purchase in the coming months, try these strategies to minimize your costs as much as possible.How to get the best mortgage ratesMortgage rates can vary a lot from one company to another, so comparing several options is one way to secure a lower rate. In fact, according to Freddie Mac, you can save anywhere from $600 to $1,200 a year just by getting multiple rate quotes."In theory, lenders should offer similar rates,” says Ying He, a real estate agent with Barb Co in San Francisco. “In reality, however, there can be discrepancies due to different lending policies, time taken to respond, and lenders' specific strategies. Some lenders are willing to sacrifice profit for market share in certain areas. Some banks offer discounts on the mortgage rate if borrowers open new bank accounts, transfer funds for deposit, or set up automatic monthly mortgage payments to the bank.”When you apply for a rate quote, lenders should give you a loan estimate that details all the costs of the loan they can offer you. You can use this to compare each company on rates, closing costs and other fees.Four other ways to get a lower mortgage rateBeyond shopping around, you can also be strategic about other facets of your loan to help minimize costs. Here are four expert-approved methods you can try:1. Be choosy about your loan.When it comes to interest rates, not all loans are created equal. First, the type of loan you choose factors in. Usually, government-backed loan programs — like FHA, VA and USDA loans — come with lower interest rates than other options. VA loans, which are only available for military members and veterans, typically have the lowest rates of all.The length of the loan matters, too. As He explains, “Short-term loan programs generally have lower interest rates. If the monthly payment is not a concern, borrowers can consider 15-year or 20-year fixed-rate loans.”Finally, choosing an adjustable-rate mortgage (ARM) may be something to consider, too. These loans typically come with a lower interest rate up front — for the first few years of the loan — and then the rate adjusts up or down after that, depending on the market.“ARMs are a good choice for those who do not plan to be in the home for an extended period, as these loans offer flexible rates for an introductory period,” says Alexander Suslov, head of capital markets at A&D Mortgage.2. Consider paying for discount points.Another way to lower your mortgage rate is to pay for points — sometimes called discount points or mortgage points. These let you pay a fee in exchange for a lower interest rate.Points usually cost 1% of the total loan amount and reduce your rate anywhere from ⅛ to half of a percentage point.“Buydowns can be structured for a fixed period of time or for the entire duration of the loan,” He says. “They can be paid by the buyer or seller, depending on the outcome of negotiations. It has become more common for sellers to pay points. Lenders will sometimes provide the buyer with a closing cost credit that they can use to pay the points as an incentive as well.”3. Improve your credit score.Mortgage lenders tend to give the best rates to borrowers with high credit scores. According to FICO, on March 15, borrowers with a credit score of 760 or higher — that is, very good or exceptional — received an average rate quote of 6.244%. Borrowers with a score of 620, which is considered fair, averaged 7.833%.If your score is on the lower end, you might work on improving it before applying for a loan. There are many ways to do this, including paying down your debts, disputing errors on your credit report or asking for a credit limit increase (just don’t use it). You can also work on keeping your credit card balances low.“You should ensure your revolving debt balance is less than 30% of your credit line,” says Tanya Blanchard, president of Madison Chase Capital Advisors. “If your credit limit is $1,000, your balance shouldn’t be more than $333.”4. Make a bigger down payment.There are a few ways making a bigger down payment can help with your mortgage costs. First, it reduces the amount the lender has to loan you, therefore lowering the risk they take. They often reward lower-risk borrowers with lower rates.On top of this, a bigger down payment means a smaller loan balance, which lowers your monthly payment, too. It can also help you avoid private mortgage insurance. This costs between $30 to $70 per month for every $100,000 borrowed, according to Freddie Mac.“If you have the ability, increase your down payment,” says Maureen McDermut, a real estate agent with Sotheby's International Realty. “While it will drain a bit more of your bank account, it will help long term in getting a lower interest rate and payment on your mortgage."If you do opt for a larger down payment, just make sure you’re not using all your emergency savings to do it. Having a healthy emergency fund is critical once you become a homeowner.Lower mortgage rates are possibleWhile mortgage rates are higher than they were a few years ago, that doesn’t necessarily mean you’re going to get a sky-high rate if you buy a home or refinance today. There are many ways to reduce your rate and make your mortgage costs more manageable.“Although interest is higher than last year, if someone has the down payment and closing costs available, now is still a great time to purchase,” Blanchard says. “The market has shifted in the direction of a buyer’s market, so I see more sellers paying some, if not all, closing costs for the buyer.”When in doubt, consider talking to a financial advisor or mortgage broker for guidance. They can also offer other money saving tips for your mortgage journey.Editorial Disclosure: All articles are prepared by editorial staff and contributors. Opinions expressed therein are solely those of the editorial team and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in this article is accurate as of the date of the publish. Check the lender’s website for the most current information.This article was originally published on SFGate.com and reviewed by Lauren Williamson, who serves as Financial and Home Services Editor for the Hearst E-Commerce team. Email her at lauren.williamson@hearst.com.