Disclaimer: This post is sponsored by PSECU, a Pennsylvania-based credit union.

Buying a home is an exciting moment in any person’s life. It’s one of the biggest purchases you’ll ever make! That’s why it’s important to do your research on how to save the most money on your mortgage.

This list includes money-saving tips for before you buy a home and also after you buy. Each tip will help you save a little bit but over time those savings will add up.

PSECU created this cheat sheet on the various types of home loans with different ways you can pay less in interest.

Make Sure Your Credit Score Is Good

The lower the interest rate on your mortgage, the lower the monthly payment will be. Lenders will charge higher interest rates to people with lower credit scores. About one year before looking for your home, check your credit score. If it needs to be higher, work to raise it.

Shop for the Lowest Interest Rate Possible

Interest rates matter tremendously in your payment. The lower the rate, the lower your payments. Shop around for the lowest interest rate you can find. Even a 1% decrease in interest rate can save you thousands of dollars over the life of the loan. If you are financing in a period of high rates, consider refinancing when interest rates go down again.

Avoid PMI by Paying 20% Down

If your down payment is less than 20 percent, most lenders will charge Private Mortgage Insurance (PMI). When you own 78 percent of the home’s assessed value, PMI will drop on conventional loans, but until then, it will add to your mortgage costs every month. Be cautious of FHA loans that have PMI for the life of the loan. You would need to refinance in order to get that extra monthly payment removed. And refinancing means you have to pay closing costs, which is usually 2-3% of the loan.

Use Points

Points are a type of prepaid interest that you can pay upfront to lower your costs over the life of the mortgage. You can usually buy up to three points. These points are in addition to your mortgage costs. Before you purchase points, take the time to calculate if you will recoup the cost of the points.

Make Additional One-Time Payments

Any payment you make on the mortgage’s principal will lower the amount you owe, and decrease the monthly payment. So making one-time payments every year will help those mortgage payments drop. If you receive a tax return or a cash gift, it’s a good investment of the money.

Plan for Biweekly Payments

Biweekly payments lower the principal faster than monthly payments. With biweekly payments, you will pay a lower amount 26 times per year rather than 24 times, which whittles the mortgage away faster. The more the mortgage amount drops, the less you pay.

Take the time to figure out how you can best save money on your mortgage before purchasing a home, and you will certainly thank yourself later.