While it’s true that high-ratio mortgages often come with slightly lower interest rates because they’re insured, this doesn’t mean it’s easy to find a great rate. However, there are a number of factors lenders will take into account when considering your mortgage application, such as your credit score, your debt ratios, and your income. We recommend focusing on these factors to improve your chances of getting a great rate. Improve your credit score: The minimum credit score to qualify for a high-ratio mortgage is 680 in Canada. In general, your lender will look at your credit score when determining your rate, as your score is usually indicative of your ability to make payments on time and manage your debts. The best way to improve your score is to make loan and credit payments on time and in full. Improve your debt ratios: Lenders will also determine whether you have a reliable income stream and whether that income is high enough to qualify for your new mortgage loan. In addition, lenders will also look at your Gross Debt Services (GDS) and Total Debt Services (TDS) ratios to determine whether you can handle your payments. As per the guidelines from the Canadian Mortgage and Housing Corporation (CMHC), your GDS ratio should not exceed 39% of your gross annual income. Furthermore, your TDS ratio should not exceed 44%. Compare the market: Finally, the best thing you can do to ensure you’re getting a competitive rate is to compare the market. Price comparison websites are becoming an increasingly popular way for homebuyers to hunt for great rates. LowestRates.ca compares mortgage rates from 50+ of the top banks and brokers in Canada.