Shaya Seidenfeld Shares Tips to Secure a Better Mortgage for Your Property

You finally find a place that feels like home, but the mortgage numbers on your screen make your stomach drop. Shaya Seidenfeld, a seasoned real‑estate advisor who has guided dozens of first‑time buyers through the lending maze, insists that you can tilt the odds in your favor with a few strategic moves. Below, he walks us through the steps that have saved his own clients real money.

Step 1: Know Your Numbers—Before the Lender Does

Check Your Credit, Top to Bottom

Last month, one of Shaya’s clients discovered a seven‑year‑old medical bill dinging her score by 40 points. A quick dispute pushed her into a better rate bracket. Take that as a cue: download your free credit report, highlight anything that looks off, and give yourself a buffer of at least six weeks to fix mistakes or pay down balances.

Map Out a “Comfort Zone” Budget

Instead of chasing the maximum loan you qualify for, Shaya recommends a simpler rule: keep the monthly payment where you could still breathe if your income dipped a bit. Fire up any mortgage calculator, plug in a payment you like, and work backward to see the loan size that fits. It’s grounding—and it keeps emotions from driving the purchase price.

Step 2: Save More Than the Minimum

Why a Bigger Down Payment Pays Off

A 20 % down payment often erases private mortgage insurance (PMI), but the benefit doesn’t stop there. Lower principal means a lower monthly bill, which can widen your lender options and improve their offer. Shaya Seidenfeld tells clients to picture each extra thousand in savings as future interest they’ll never have to pay.

Simple Ways to Boost the Fund

• Split your paycheck. Automate transfers the day you get paid—money you don’t see, you won’t spend.

• Sell dormant stuff. That exercise bike doubling as a coat rack? List it online; funnel the cash straight into savings.

• Take short‑term gigs. Weekend freelancing can add up faster than you think.

Don’t Overlook Assistance Programs

Even if you’re sitting on a solid down payment, state or federal programs might still shave off thousands at closing. FHA loans, VA loans, and local grants can all make the bank’s math friendlier. Shaya suggests checking your state housing agency website before you start paperwork.

Treat Loan Shopping Like Any Other Purchase

Collect Quotes on the Same Day

Interest rates shift daily, so to compare apples to apples, request three Loan Estimates within a four‑hour window. That eliminates timing bias. Shaya’s trick: ask each lender to email their quote by 3 p.m., then lay them out side by side after work.

Push Back on Fees—Politely

When one lender tacked on a $650 “processing fee,” Shaya Seidenfeld simply forwarded a cheaper competitor’s sheet and asked, “Can you match this?” They waived it in minutes. Junk fees aren’t set in stone; question them with confidence.

Step 4: Polish Your Profile

Trim High‑Interest Debt First

A lower debt‑to‑income ratio (DTI) can unlock better terms even if your credit score is decent. Pay off smaller balances—credit cards, personal loans—before you apply. It shows discipline and frees up room in the lender’s risk model.

Show Job Stability

Two years in the same role looks reassuring. If a career switch is on your horizon, close the loan first. “Underwriters love predictability,” Shaya notes. The steadier your income record, the simpler the approval.

Step 5: Time Your Rate Lock

Mortgage rates can jump on a single economic report. Use a rate‑tracking app or set Google alerts for “30‑year mortgage average.” When you see a dip that aligns with your closing timeline, lock in. Some lenders even offer a one‑time “float‑down” if rates fall again—ask for it in writing.

A Quick‑Hit Checklist to Keep Handy

• Review and correct your credit report.

• Hit a 740 + score if possible.

• Set a savings auto‑transfer, no exceptions.

• Gather pay stubs, W‑2s, and bank statements now.

• Compare at least three Loan Estimates the same afternoon.

• Push back on every unexplained fee.

• Lock when rates dip, and confirm float‑down terms.

Stick this checklist on your fridge—you’ll see it every morning.

Conclusion: Small Moves, Big Wins

Buying property is emotional, but your mortgage should be mathematical. By tuning up your credit, padding your down payment, and negotiating like a pro, you’ll edge into a lower rate that echoes through every monthly bill. “A single percentage point saved could equal a new roof down the line,” Shaya Seidenfeld reminds us.

So tonight, pour a cup of tea, pull that credit report, and set your first auto‑transfer. With these steps—and Shaya Seidenfeld’s steady guidance—you’re not just getting a mortgage; you’re securing a smarter financial future.