Being strategic can help you save money on your mortgage. Buying a home is the largest investment that most Americans make in their lifetime. Your mortgage will potentially be a part of your financial plan for the next 30 years. Understanding how to get the best deal on your home loan and knowing the money-saving options available to you is key to making smart financial moves. Take some or all of these 6 steps to save money on your mortgage: 1. Build Your Credit Score Before Applying You can save money on your mortgage by raising your credit score before you apply for a home loan. A minimum 620 credit score is needed to qualify for a conventional mortgage. However, if your credit score is at or above 740, you will have access to the best rate pricing on the market for your mortgage. Mortgage rates are calculated by a number of financial factors that determine the potential risk an investor takes during the loan term. Having an excellent credit history and score allows you to access a better interest rate on your loan. Your responsible use of credit allows you to save money on your mortgage by showing that