Steps on How to Get a Mortgage

Learn How to Get a Mortgage Without the Stress 

Whether you’re upgrading from your first home or buying on your own for the first time, this guide will walk you through how to get a mortgage step by step. You’ll learn the most important things to prepare, avoid common mistakes, and discover both internal and external resources that make homeownership possible. 

1. Understanding the Mortgage Application Process Early On

Knowing the mortgage application process gives you more power during negotiations and helps you avoid costly delays. It’s not just paperwork—it’s your roadmap to a smooth homebuying experience. 

Know What Lenders Want from You 

Lenders typically review your: 

• Credit score (check yours free at AnnualCreditReport.com) 

• Income and job stability 

• Debt-to-income ratio (DTI) 

If you’re unsure where to begin, you can explore helpful resources in our Homebuyer Education Center to understand your financial position before you apply. 

Get Pre-Approved to Unlock More Buying Power 

Getting pre-approved early in the game can set you apart from other buyers. It shows sellers you’re serious and lets you act fast when you find the perfect home. A lender will issue a pre-approval letter after reviewing your income, credit, and savings. Learn more about the process on our Steps to Buying a Home page. 

2. Essential Steps to Get a Mortgage You Can Afford

When you understand the steps to get a mortgage, you’re less likely to feel overwhelmed and more likely to land a loan that works for your lifestyle. 

Explore Different Loan Types That Match Your Needs 

Some common mortgage types include: 

• Conventional Loans (for strong credit and larger down payments) 

• FHA Loans (for first-time or lower-income buyers) 

• VA Loans (Learn about VA loan benefits) 

• USDA Loans (Eligibility details here) 

Also, check if you’re eligible for Community Home Investment Programs (CHIPs) through Homebuyer Wallet. These programs may offer down payment help, subsidized rates, and closing cost assistance. 

Choose the Right Lender—Comparison is Key 

Each lender offers different loan packages, terms, and customer experiences. Compare rates, fees, and reputation by getting quotes from at least three lenders. You can also use online tools like Consumer Financial Protection Bureau’s rate explorer to benchmark offers. 

3. Pro Tips on How to Get a Mortgage Without Stress

Let’s be honest—how to get a mortgage isn’t taught in school. These simple actions can make the entire experience faster, easier, and less stressful. 

Keep Your Financial Documents Ready 

Expect lenders to ask for: 

• 2 years of tax returns 

• 2 months of bank statements 

• Recent pay stubs 

• Employment verification 

Get these ready early and save digital copies to a folder. A little prep now will save a lot of stress later. 

Budget for the Full Cost of Homeownership 

Don’t just plan for the mortgage payment. Add in: 

• Property taxes 

• Homeowners insurance 

• HOA dues (if applicable) 

• Utilities and maintenance 

Check out our Financial Planning Tools to help estimate these extra costs and keep your budget realistic. 

4. FAQs: Common Questions About How to Get a Mortgage

What credit score is needed for a mortgage? 

Most lenders require a credit score of at least 620. Some government-backed loans allow scores as low as 580. The higher your score, the better your rate. 

Can I qualify for a mortgage if I have student loans? 

Yes. Lenders evaluate your debt-to-income ratio. If your student loans and other debts are manageable in relation to your income, you can still qualify. 

How long does the mortgage process take? 

The full mortgage application process usually takes 30–45 days. Being responsive with documentation can speed things up. 

Getting a Mortgage Doesn’t Have to Be Overwhelming 

You’ve just covered the essential steps to get a mortgage—from prepping your credit to choosing the right loan and navigating lender conversations. Remember, every financial situation is unique, but knowledge is your best tool. 

Take your time, stay informed, and don’t hesitate to ask questions along the way. The more you understand how to get a mortgage, the more empowered you’ll feel as you move toward one of the biggest investments of your life. 

Let Homebuyer Wallet Help You Get the Best Mortgage Possible 

Buying a home is a huge milestone—and you don’t have to do it alone. At Homebuyerwallet.com, we offer tools, guides, and access to programs that make homeownership more affordable and accessible.

Ready to take the next step?

Start with our free tools and housing assistance programs to move forward with confidence, backed by expert support and real savings.