How to get a mortgage comes down to seven stages, and the first three cost nothing but time: know your credit, choose the program, and gather your documents. Do those properly and the rest of the process is mostly administration.
By Julia LuisMortgage Loan Officer · Mortgage-World.comCheck your credit, pick a loan program, gather two years of income documents and two months of bank statements, then apply for a documented pre-approval. Compare Loan Estimates side by side rather than advertised rates. Once under contract, underwriting to closing usually runs 30 to 45 days.
Before you apply
Step 1 — Know Your Credit Before a Lender Does
Everything in how to get a mortgage is priced off this number, so start here. Lenders pull all three bureaus and qualify you on the middle score, not the best one and not the average. With two borrowers, most programs then use the lower of the two middle scores.
Pull your reports and read every line for errors before you fix anything. If balances are high, paying revolving accounts below 30% of their limits is the fastest available lever — utilization re-reports monthly. Do not pay off old collections before a loan officer has looked at the file; on some scoring models that restarts the clock.
Choosing the loan
Step 2 — Pick the Program Before the Lender
There is no single mortgage. Knowing how to get a mortgage starts with knowing which one you are getting, because the program sets the credit floor, the down payment and the mortgage insurance.
| Program | Down | Credit floor | Fits |
|---|---|---|---|
| FHA | 3.5% | 580 (500 with 10%) | Lower credit, higher debt ratios |
| Conventional | 3% | 620 | Stronger credit; insurance can be removed later |
| VA | 0% | None published | Veterans and active duty — no monthly MI |
| USDA | 0% | 550 typical | Eligible areas, within income limits |
| Non-QM | 10%+ | Varies | Self-employed, investors, recent credit events |
The distinction that matters most over thirty years: FHA mortgage insurance stays for the life of the loan when you put less than 10% down, while conventional insurance comes off at 80% loan-to-value. Plenty of buyers start on FHA and refinance later, and that is a perfectly good plan as long as you enter it deliberately.
Paperwork
Step 3 — Gather the Documents Once
Nearly every late-stage delay traces back to something missing here.
Two details save more time than anything else on this list. Send bank statements as full PDFs downloaded from your bank rather than screenshots, and include the page that says “this page intentionally left blank” — underwriters check page counts. And season your funds: money sitting in your account for sixty days needs no explanation, while a deposit made last week has to be sourced and documented, and sometimes cannot be used at all.
The application
Step 4 — Apply, and Get a Real Pre-Approval
This is the stage where how to get a mortgage stops being research and starts being a file. A prequalification is unverified arithmetic. A pre-approval means a lender has pulled your credit and reviewed your actual documents, and it is what belongs on an offer — listing agents know the difference on sight. Get it before you tour anything, and ask for the letter at your offer amount rather than your maximum.
Underwriting weighs your debt-to-income ratio as heavily as your score: gross monthly income, roughly 43% to 50% of it allowed for all debt combined, minus your car, card and student loan payments. The CFPB explains the calculation in plain language. What remains has to cover principal, interest, taxes, insurance and any HOA fee.
Comparing offers
Step 5 — Compare Loan Estimates, Not Advertised Rates
Every lender must give you a standardized Loan Estimate within three business days of your application, and the form is identical everywhere by design so two can be laid side by side. Compare section A, the cash to close, and the APR — not the headline rate. A rate a quarter point lower with $4,000 in points is not a better loan.
Mortgage inquiries inside the same shopping window count as one, so getting three quotes in two weeks costs you nothing.
This is also where a broker differs from a bank. A bank offers its own product set; a licensed broker places your file with multiple wholesale lenders, which matters most when something about the file is not standard — a lower score, self-employment income, or a property type one lender will not touch.
Underwriting to closing
Steps 6 and 7 — Underwriting, Then Keys
The last two stages of how to get a mortgage are mostly out of your hands. Once you are under contract the file goes to underwriting, the appraisal is ordered, and title work begins. Expect conditions — requests for a letter of explanation, an updated statement, proof a deposit came from where you said. Answer them the same day. Files do not usually die from bad numbers; they die from slow responses.
Then change nothing. Your credit is re-pulled shortly before closing, and the approval is re-issued at whatever the file looks like then. No new accounts, no financed furniture, no car leases, no job changes without telling your loan officer first. Three business days before closing you receive the Closing Disclosure — read it against your original Loan Estimate, because lender fees may not increase without a valid change of circumstance.
Total timeline from application to keys is typically 30 to 45 days once you are under contract. The HUD program pages are a useful reference if you are using FHA financing, and you can start your file online whenever you are ready.
- Lenders qualify on your middle credit score, and on the lower borrower’s score when there are two of you.
- The program sets the rules — credit floor, down payment and mortgage insurance all follow from it.
- Season your funds 60 days ahead. Unsourced deposits are the most common cause of delay.
- A pre-approval is documented; a prequalification is not. Only one belongs on an offer.
- Compare cash to close and APR on the Loan Estimate, never the advertised rate.
- Mortgage inquiries in one shopping window count as a single pull — shopping is free.
- Change nothing between application and closing; your credit is re-pulled before you sign.
Common questions
Common Questions About Getting a Mortgage
How long does it take to get a mortgage?
Once you are under contract, 30 to 45 days is typical. Getting pre-approved beforehand takes a day or two if your documents are ready, and it is the part that most shortens the overall timeline.
What credit score do I need?
580 for FHA with 3.5% down, 620 for conventional financing. VA and USDA publish no minimum though lenders apply their own. Files down to 500 FICO can still be placed on FHA and VA with a larger down payment.
How much do I need for a down payment?
Between nothing and 3.5% on most first purchases: VA and USDA require zero, conventional starts at 3%, FHA at 3.5%. Twenty percent is the point where conventional mortgage insurance ends, not a requirement to buy.
Does applying to several lenders hurt my credit?
Not meaningfully. Scoring models treat multiple mortgage inquiries within a shopping window as one event, specifically so that comparing lenders is not penalised.
Can I get a mortgage if I am self-employed?
Yes. The standard path is two years of tax returns, and where returns understate real income there are programs that qualify on twelve or twenty-four months of business bank deposits instead.
What is the difference between a broker and a bank?
A bank offers its own products. A licensed broker submits your file to multiple wholesale lenders, which matters most when the file is not standard. Broker compensation is disclosed on your Loan Estimate like any other fee.
What can make an approval fall apart late?
New credit accounts, large unexplained deposits, a job change, or a low appraisal. The first three are entirely within your control, which is why the rule between application and closing is to change nothing.
Keep reading
Related from Mortgage-World.com
Start at stage one
A licensed loan officer on our team will read your credit, tell you which programs fit, and give you a documented pre-approval you can shop with. New Jersey, Connecticut and Florida. No documents needed to begin.
Written and reviewed by Julia Luis, Mortgage Loan Officer of Mortgage-World.com, NMLS #1630225. About the author
Mortgage-World.com LLC is a licensed mortgage brokerage serving New Jersey, Connecticut and Florida. NMLS #1630225 (verify on NMLS Consumer Access) · Florida license MLB 1987 · Family owned since 2017.
535 Bergen Blvd, Suite 2, Ridgefield, NJ 07657 · 888.958.5382 · Mon–Sun 8am–10pm EST
Last reviewed August 2026. This article is general information for educational purposes, not a loan approval, a rate quote, or a commitment to lend. Program guidelines, rates and limits change, and every file is underwritten on its own facts. Mortgage-World.com is not an agency of the state or federal government and is not affiliated with the Federal Housing Administration. Equal Housing Lender.
Comments are closed.