Would you like to buy your own home? Or are you looking to refinance your home? If you must borrow your purchase funds, a mortgage is necessary. With this knowledge in mind, you should find the process simple to navigate.

Avoid borrowing the most you’re able to borrow. Your mortgage lender will not consider the extra expenses that may come up in your day-to-day life. Consider your life, how your money is spent, and what you can afford and stay comfortable.

Credit Score

Long before you apply for a mortgage, look into your credit report and make certain everything is in order. In 2013 they have made it a lot harder to get credit and to measure up to their standards, so you have to get things in order with your credit so that you can get great mortgage terms.

Before you try to get a loan, consider your credit score and make sure you do what you can to make sure it’s good. 2013 ushered in much tougher credit standards for home loans, so it is essential to have the highest credit score possible to get to the best rates and terms.

There are new rules that state you might be able to get a new mortgage, and this applies even though you might owe more on your home that what it is worth. Before the new program, it was difficult for many to refinance. Gather information about it to see if it can be of benefit to your situation as it can lead to a better credit situation, and lower payments on your mortgage.

You should have a work history that shows how long you’ve been working if you wish to get a home mortgage. Many lenders won’t even consider anyone who doesn’t have a work history that includes two years of solid employment. Job hopping can be a disqualifier. You never want to quit your job during the loan application process.

Have all your ducks in a row before walking into a lender’s office. Showing up without the proper paperwork will not help anyone. The lender wants to see all this material, so keep it nearby.

If your home is already worth much less than is currently owed and you have had issues refinancing, keep trying. New programs (HARP) are in place to help homeowners out in this exact situation, no matter how imbalanced their mortgage and home value seems to be. Speak to your home loan provider about the new possibilities under HARP. If the lender will not work with you, look for someone who will.

Follow this advice to get the best home mortgage. When thinking of applying for a home loan, use the information presented here as guidance. Don’t be frightened of the process. Owning your very own home is one of life’s great joys.