Using these tips to shop for a mortgage will save you time and money.

1. How to Get the
Best Mortgage for Your Salary

2. Though interest rates are near
all-time lows, finding the right
mortgage can still be a tricky process.

3. Using these tips to shop for a
mortgage will save you time and
money in the process.

4. Review your credit report
once a year.
Lenders use your credit score as one of the main factors in
determining if you will get approved for a loan.

5. Spruce up your score at least six
months before applying for a loan.
Avoid big purchases that put your finances in jeopardy and
say “No” to opening any more lines of credit.

6. Work on improving your
debt-to-income ratio.
This is the amount of money you make versus how much you owe.

7. Either reduce your debt or
increase your income.
Pay off your loans completely or start contributing more
toward monthly credit card payments.

8. Plan for a big down payment.
Most loans require a down payment of 5 to 20%
of your future home’s price.

9. Remember: The bigger your down
payment, the more you’ll save (usually).
Perks often include lower interest rates and more attractive closing fees.

10. Ask yourself:
How long will I live here?
If it’s only a few years, a hybrid loan nets you a lower interest
rate than a typical 30-year mortgage.

11. Lower your overall risk with a
15- or 30-year-fixed mortgage option.
No one can predict the future – interest rates could spike or the housing
market could change. If you aren’t comfortable with unknowns,
a more traditional plan may be best.

12. Fast-track your search by requesting
online quotes from local lenders.
Provide each lender with the exact same information and
compare the rates they send back to you.

13. How many bedrooms?
Do your children have separate bedrooms or share? You may consider
looking at homes with a spare bedroom to grow into.
Look for lenders who are verified,
licensed and highly recommended.
Lenders on Zillow have a 4.9/5 average customer rating
and an average of 16 years of experience.

14. Choose the one lender you
feel most comfortable with.
Call or meet in person before committing – you’re going
to be working closely with them for a while.

15. Lock in your interest rate
when you feel confident.
Opt to lock in your rate immediately after your application is finished or float your rate until you’re
ready to close. You could end up paying less if the market is in a better spot, but it’s a gamble.

16. The No. 1 rule for
mortgage success…
Enter into the process well-prepared and confident.
You’re about to buy a house!

17. Questions about your mortgage?
Get help from a local lender today –
often within minutes.
Talk to a Lender Now