TAMPA - Now might be the time to capitalize on low mortgage rates. Rates are still historically low, but they could start to rise.

Lender Robert Paredes says a lot has changed since the mortgage meltdown.

“Nowadays, you do have to prove everything,” Paredes said. “If you say you make ‘x’ amount of dollars, you’re going to have to have the tax returns or pay stubs to prove that as well.”

The mortgage crisis led to new laws, all of which are aimed at protecting consumers.

When it comes to nailing down a mortgage loan, getting the best rate is all about your credit. Paredes said the higher the rating, the better.

"Anything above a 720 credit score is pretty decent to get you the best rate that’s possible out there. Some lenders may be 740,” Paredes said.

Right now, the best rates are around 4.375%. Add three to four points if your credit score is lower, like 600. (A point is fee equal to 1 percent of the loan amount.)

Your credit score is one of the most important factors in determining what your interest rate will be on a loan. Keep in mind, 30 to 40 percent of your credit score is based on your credit card debt. If you have credit challenges, FHA loans can help. But, consider those a last resort.