First Time Home Buyers: Tips On Getting a Mortgage

Posted by Dan Wolf on Friday, May 22nd, 2015 at 8:28am.

When you are buying your first home, it can be a scary time. You have to worry about whether or not you will be approved for a mortgage. Though you are usually pre-approved, you still will probably worry that your mortgage may fall through, even on the day of your settlement.   However, as a first time home buyer, there are some things that you can do to make sure that you have a better chance at getting a mortgage.               

Here are some tips to getting a mortgage.

•    Have all your paperwork in order. It is very helpful to have all of your paperwork ready before you meet with your realtor and mortgage company. This will help to speed up the process and, hopefully, give you an idea of how much you can afford before you go looking at homes.

•    Make sure that you have a steady job and have been there for several months (if not years). Mortgage companies want to see that you can hold a steady job. They want to know that you will be able to continue to pay off your mortgage for the next twenty to thirty years.  If you have not had the same job for several months, at least make sure that it is the same type of job so the mortgage company knows that you don’t skip from one job to another.

•    Have some credit (but not too much). Yes, this sounds like a contradiction but the mortgage company needs to see that you can handle credit. They like to see that you have a moderate amount of credit and you pay something toward it every month. In fact, you can't get a mortgage loan without any credit cards.

Getting a mortgage can be a scary process. However, you should try to get all of your paperwork ready so you can figure out how much of a house you can afford, before you start looking at homes. You should also make sure that you have a steady job and some credit. Mortgage companies need to know that you will able to pay off your house in the next twenty to thirty years.

Contact us at 248-9653 or visit us online at, for all of your real estate needs.

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