Loan Officers like Vahe Hayrapetian on How to Get a Good Mortgage Deal

For first-time homebuyers, getting a mortgage might seem as difficult as climbing a mountain, yet they know that they must have one if they want to secure the home of their dreams. Getting a great mortgage deal, however, can be made simple if you’ve done everything you can to appear as attractive to lenders as possible. Mortgage lending specialists like Vahe Hayrapetian offer these expert tips on boosting your chances of landing the most favorable loan terms.

Check your Credit Score

Lenders will want to see whether or not you have the capability of paying your monthly mortgage dues, and they can do this by searching your credit history. This will give them a glimpse of your credit card standing, loan history, and even some of the utility payments you made and the accounts you opened in the past six years.

You need to move ahead of the lenders, and check your credit history and your credit score before they do. Look for errors in your credit report that can work against you. If you feel like your credit score isn’t favorable enough, you’ll have to work hard on improving it before seeking a home loan.

Organize your Documents

Once you plan on applying for a mortgage, sift through and organize your documents, especially those concerning your income and taxes, as early as now. Mortgage lenders will typically request the previous year’s W-2, two recent pay stubs, tax returns, and two months’ worth of bank statements. Don’t lose these important documents, or the process could take longer.

Evaluate your Assets and Liabilities

As a first-time homebuyer, you must have a good idea on the amount of money you owe and the amount of money flowing in from your income. You might owe little money and you may be making your payments on time, but how are your spending habits? More particularly, are you able to save some money for each paycheck?

For starters, you may want to track your spending habits for the next two months, then decide on whether you have to improve on it or not. At the very least, you’ll have an idea of your financial standing. When you’re pretty confident that you have done everything to improve your credit rating, approach loan originators like Vahe Hayrapetian who can help you find the mortgage deal that best suits your situation.


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