While getting a mortgage might seem like a stressful event, it actually does not have to be that way. Being prepared ahead of time is the key to success, even when it comes to a mortgage application and mortgage approval. Here are some tips for a successful mortgage that anyone can use at any time.

-Take a look at your credit prior to completing a mortgage application. Cleaning up any errors and paying down credit cards can help improve your credit score. It takes about ninety days for the effects to show up on a credit report including a change in credit score.

-Getting prepared before you start is essential for a smooth mortgage experience. Have bank statements, pay stubs, W2s and income tax returns ready. Divorce papers, child support documents and even bankruptcy papers are just some of the additional documents that may be needed.

-Knowing how much you can afford and how much you want to spend on a mortgage each month will help keep the mortgage within reason. No one knows better what your financial circumstances truly are and how much you need to live comfortably each month.

-Shop around for a mortgage for the best deal. The internet is a good place to start, but going to your local bank may still be the best deal out there. Do your homework before committing.

-Once your mortgage has been approved, do not start shopping or adding anything to credit cards that may affect your credit. Also, do not take on any additional loans. Lenders can re-check your credit right up to the closing.

-If you are planning a move or are in need of short term financing, consider an adjustable rate mortgage which can be the most affordable and cheapest option available.

-Make sure to check up on all of the mortgage options available to you. FHA has programs that allow sweat equity, co-borrowers, gifts and housing grants. All of these options will help to make the transaction cheaper when closing.

-If you have been denied a mortgage approval, make sure to find out the reason. This will give you the opportunity to correct the situation, such as credit issues. In other cases, it may be the lender's standards are too high and looking for another lender may be the answer.

There is plenty of sources available for educating yourself about mortgages and home ownership. Knowing the procedure and what is expected from you, the consumer and applicant, is the first step to a successful mortgage.