Land a Mortgage Like a Pro: Three Easy Steps

What's Hot

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

Do This or Your iPhone Bill May SkyrocketSave

11 Places in the World Where You Can Afford to Retire in StyleMore

19 Moves That Will Help You Retire Early and in StyleFamily

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

50 Ways to Make a Fast $50 (or Lots More)Grow

32 of the Highest-Paid American SpeakersMake

The 35 Two-Year Colleges That Produce the Highest EarnersCollege

5 DIY Ways to Make Your Car Smell GreatCars

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

7 Household Hacks That Save You CashAround The House

5 Reasons a Roth IRA Should Be Part of Your Retirement PlanGrow

30 Awesome Things to Do in RetirementCollege

Beware These 10 Retail Sales Tricks That Get You to Spend MoreMore

9 Tips to Ensure You’ll Have Enough to RetireFamily

You wouldn't think of overpaying $50,000 when buying a new house, but you could pay that much extra if you're not careful shopping for a mortgage.

You wouldn’t think of overpaying $50,000 when buying a new house, but you could pay that much extra if you’re not careful shopping for a mortgage.

If you can knock just one point off a mortgage — lock in a 4 percent interest rate instead of 5 percent, for example, for a 30-year term — you could save enough to put your kids through college or retire earlier.

Check out mortgage shopping tips from Money Talks News savings expert Stacy Johnson in the video below, and then keep reading for more advice on finding the right home loan.

Step 1. Polish your credit

To get the best mortgage deal, you need a spotless credit history. This boils down to concrete numbers.

“We literally are told by the credit companies we pull from what the potential rise in their score could be and what actions they have to take to get it there, and we coach them to do that,” says Tina Mulligan, regional sales manager at The Mortgage Firm in Pompano Beach, Florida.

Start polishing your credit score months or even a year ahead of applying for a mortgage.

“There is no quick fix for bad credit scores,” warns Experian, a global credit-reporting firm.

As money expert Stacy Johnson advises in this Money Talks News video about raising your credit score, go to, get a free copy of your history and check for mistakes or other negatives appearing on your account. Also, pay down debt so your balances are 30 percent or less of your available credit. You could also ask current lenders for higher credit limits.

However, don’t open new accounts just to show a larger amount of available credit, warns Experian. Lenders may think that those applications for new credit cards mean you’re taking on more debt. And don’t close unused credit accounts, because that will lower your available credit while raising your credit-utilization rate.

While many factors go into your credit score, the most critical is paying your bills on time, Experian says.

Check out Credit Restoration in the Money Talks News Solutions Center for more help, or check out this mortgage tip worth up to $50,000.

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,651 more deals!