The secrets on how to get a good mortgage

In this moment getting a mortgage is harder and banks are tightening their rules. Banks have loan money over the year with too many risks and that led to the 2008 financial crisis that everyone knows.

Today people have to be more careful and should be prepared before asking a loan and going for a mortgage. If you are not ready or prepared, then banks will refuse it and you will be on the black list.

And the truth is banks share information between them. They have the system and join forces to make more profits. If you have been refused a mortgage on bank 1 then bank 2 will make it harder and charge you higher interest rates. They will claim it is risky for them to give you a mortgage.

But you should bare in mind that banks need your money and need to sell mortgage to live. They will just make your life harder so they can profit more from your mortgage.

The problem most people face is very simply: they don't know much about mortgage before they ask for one or they lack negotiating skills. Being prepare to negotiate is very important.

You need to study diferent mortgage and different banks. Compare rates, interest, timings, duration, etc. If you know every bank proposal and conditions you will know the market better and look like an expert.

Ask your friend how was with them. They will tell you their mistakes and you can learn.

Don't rush it. I know you are desperate to get a new home and to get your mortagage approved as soon as possible. But a few days or weeks might save you thousands of dollars and Euros.

To be ready to negotiate a mortgage you can also read some books about it and understand:

• How to better understand the maze of mortgages;
• How qualifying for a mortgage is different today;
• What the best mortgage is for you and not what is the best mortgage.
• The right steps to getting a mortgage starting with the credit report, all the way through to settlement;
• What documentation to gather together before you apply;
• All about credit explanation letters and what they should say;
• Important mortgage terms - definitions you can understand!