123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Investing---Finance >> View Article

How To Get A Higher Mortgage Loan Amount?

By Author: Aishwarya Mahurkar
Total Articles: 291

There are a number of factors which a financial institution keeps in mind when considering an individual’s loan application. Getting a higher mortgage loan amount is not easy the expectations of the financial institution from the applicant tend to be higher when it comes to their credit score, age, income, etc. Here are a few tips you can follow to get a higher mortgage loan amount from your financial institution:

Improve your credit score

One of the best ways one can get a higher mortgage loan is by improving their credit score. An individual’s credit score informs the financial institution about their spending habits, past debts, defaults in the repayments, etc. A higher credit score means that the individual is more reliable and will be able to repay the loan amount issued on time. Hence, financial institutions are willing to provide a higher mortgage loan amount to such individuals. In some rare cases, the financial institution might even reduce the mortgage loan interest rates being charged on the loan.

Opt for a financial broker

Most individuals who apply for any type of a mortgage loan are not aware of the entire procedure involved. Hiring a financial broker is an extremely beneficial option as it allows individuals to take advantage of opportunities available and get a higher loan amount. A financial broker will be able to negotiate with the financial institution and help the applicant get a loan amount of their choice. He can even negotiate with the financial institution to provide the applicant with lower mortgage loan rates which make the loan affordable for the applicant.


One of the best ways to get a higher mortgage loan amount is by having another family member co sign the loan being applied for. The co applicant helps boost ones eligibility as both the applicant’s incomes are added and hence provides a higher credit score. Using a co applicant increases the chances of the financial institution providing a higher loan amount to the applicant.

There are a number of steps one can take to get a higher loan amount. However, one must be aware that the mortgage loan interest rates can be high. A higher mortgage loan amount will be more expensive. Hence the applicant should be able to repay the loan amount he is applying for. The one benefit of mortgage loans is that the applicant provides their own property as security to the financial institution. Any applicant can use this to their advantage and convince the bank to either provide a higher mortgage loan amount or simply reduce the mortgage loan rates.

Author Bio :

Aishwarya Mahurkar is an experienced writer concerning the finance industry. Her articles help in informing her readers of the different types of home loan products such as Mortgage LoansHome improvement / renovation loan, loan against property interest rates.

Total Views: 216Word Count: 465See All articles From Author

Investing / Finance Articles

1. Gift Card – Who Offers Them And Smartest Ways To Use It
Author: neha sharma

2. Best Taxi Booking Apps In Mumbai
Author: neha sharma

3. 5 Points To Remember Before Shopping Grocery Online
Author: neha sharma

4. Top 4 Dth Recharge Portals
Author: neha sharma

5. Best Mobile Recharge Offers For June 2018
Author: neha sharma

6. 6 Tips To Secured Mobile Banking
Author: neha sharma

7. 4 Best Mobile Banking Apps In India
Author: neha sharma

8. Advantages Of Making A Bill Payment Online
Author: neha sharma

9. Different Modes To Pay Utility Bills
Author: neha sharma

10. What Is Internet Banking? 8 Reasons For Its Rise
Author: neha sharma

11. Two-wheeler Loan – All You Need To Know
Author: neha sharma

12. 6 Tips Before Applying For An Education Loan
Author: neha sharma

13. 5 Best Gold Loans India
Author: neha sharma

14. What Are Car Loans? 5 Tips For First-time Buyers
Author: neha sharma

15. Business Loans For Women: Eligibility Criteria And Various Schemes
Author: neha sharma

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: