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- 1. Find a lender and realtor who can help you get a good mortgage
- 2. Make a smaller down payment
- 3. Find a loan with zero percent down
- 4. Choose a no-closing-cost mortgage
- 5. Refinance when the savings justify the costs
- 6. Get a cash-out refinance loan to make life better
- 7. Improve your credit score quicker to get a good mortgage rate
- 8. Borrow only what you can afford to repay
If you are thinking about buying a house, you can do plenty of things to get a good mortgage. That means a loan that benefits you financially, time-wise and stress-wise.
Here are some tips in having an awesome mortgage.
Check your home buying eligibility. Start here (Nov 5th, 2026)
1. Find a lender and realtor who can help you get a good mortgage
Chasity Graff is the mortgage broker/owner of LA Lending, LLC, in Baton Rouge, La. She says choosing a lender can be more than just identifying who has the cheapest rate. Her biggest advice for borrowers: be a little more choosey when picking a loan officer and real estate professional.
“The loan and the borrower’s ability to purchase a home rides on the knowledge and foresight of the professionals they choose to work with,” she says.
There are multiple ways to approach this. One of them is to have a variety of lenders check your mortgage eligibility. This lets you see what rates are available to you from different lenders at once.
2. Make a smaller down payment
Who wants to have no money left after buying a house?
“I think most borrowers aren’t aware that smaller down payment options exist, even if you aren’t a first-time homebuyer,” says Chasity Graff. “These notions of having a 20% down payment being ideal were founded when sales prices were at a fraction of what they are now.”
Programs like USDA Rural Development offer 100% financing, and FHA/Conventional options allow down payments as low as 3% to 3.5%. So there is no reason to wait until you have 20%, she adds.
Saving that 20% takes time. In that same time, buyers could have been paying their own mortgage, gaining equity and building their financial wealth.
3. Find a loan with zero percent down
A variety of different programs offer zero down financing.
“My favorite is the VA loan offered to those serving, who have served or who are surviving spouses of service members,” Graff says.
For those who haven’t served, a USDA (AKA Rural Development) loan is available, she adds. These borrowers, however, need to meet income limitations and be willing to buy in certain locations.
“I’ve had borrowers purchase homes on both of these scenarios with nothing due at the table. This is when a good realtor that can negotiate seller assistance with the closing costs can be invaluable,” Graff adds.
Check your VA home loan eligibility. Start here (Nov 5th, 2026)
4. Choose a no-closing-cost mortgage
The title “no closing costs” mortgage is somewhat deceiving.
“I hear that term thrown around, but technically, there will always be closing costs on every mortgage, the only thing that changes is how they are dealt with and paid,” she said.
On a purchase, you can negotiate a seller to pay some or all of your closing costs. Alternatively, you can also discuss increasing your interest rate to provide a lender rebate towards your closing costs.
Or, for some programs, you can do both to eliminate all closing costs.
5. Refinance when the savings justify the costs
Any money you can save on a refinance is beneficial. However, you have to consider the closing costs you will pay and the monthly or full term savings. How long you plan to own the home matters too. Essentially, you need to look at the whole picture.
Graff once helped a veteran buy a condo. Less than 12 months later, she refinanced her into a new loan. The refinance lowered the veteran’s total cost over the course of her loan.
6. Get a cash-out refinance loan to make life better
Think of your home as a long-term savings account. As you pay your mortgage, you gain equity along with a natural appreciation. This increases your borrowing power, she says.
You may be stuck in some type of long-term debt and not getting anywhere. In that case, tapping into that equity can save you huge interest charges each month. Remember, though, that trading a three-year debt for a 30-year increase on your mortgage rarely is a smart decision.
7. Improve your credit score quicker to get a good mortgage rate
Paying down revolving debt is probably the biggest month-to-month improvement you will see in your credit score, Graff explains. Getting your revolving balances/credit card debts down to a low percentage of your credit limits can really affect your score.
The better your credit score, the better the mortgage rates that will be available to you.
Also, paying everything on time can make big leaps into improving your credit score. The same goes for dealing with negative accounts before they become a collection.
8. Borrow only what you can afford to repay
“What if I told you when we approve mortgages, we look at your gross income before Uncle Sam gets their share, not your take-home pay,” Graff says. “Crazy, right?”
This is why it’s so important to know your limitations before you speak with a mortgage professional. Have a realistic discussion about where you want your monthly note to be, including insurance and taxes. You also need to know what you feel comfortable with for a downpayment. Likewise, know what you want to bring to the closing table.
Check your home buying eligibility. Start here (Nov 5th, 2026)
