How to Get a Home Loan: What to Know Before You Apply

Before applying for a mortgage, understand your credit score, as higher scores improve approval chances and lower interest rates. Know your affordable price range by considering your debt-to-income ratio, ideally below 36%. Plan your down payment, typically 10-20%, to reduce loan size and avoid extra insurance costs. Choose between fixed-rate loans with stable payments or adjustable-rate loans with fluctuating rates. Consider loan terms and your financial situation carefully.