 TITLE: How Much Interest Do You Pay on a Mortgage? CONTENT: How to Lower the Interest on Your Mortgage\n------------------------------------------\nWith the above factors in mind, here are a few things you can do to help lower your interest payments when you get a mortgage:\n*   **Improve your credit.** Although it can take time, try to improve your credit before taking on a mortgage. One potentially quick way to do this is by paying down credit card debt or consolidating credit card debt with a personal loan. However, you should avoid taking on a new loan if you plan on buying a home in the near future as new debt could compromise mortgage approval.\n*   **Save up a large down payment or buy a cheaper home.** While you may want to move right away, taking more time to save up a large down payment could help you secure a lower interest rate and avoid extra mortgage insurance costs. If you can't wait, consider a less expensive home to increase the amount of your down payment relative to the home's cost.\n*   **Choose a shorter term or variable rate.** Regardless of the loan amount, a shorter term and variable rate can also help you lock in a lower interest rate. However, they both come with additional risk as it may be difficult to afford the large payments in the future. END