To secure a mortgage after a full home purchase, follow these steps: 1) Review your credit report and aim for a score above 760 to qualify for the best rates; 2) Save for a down payment (3.5%-20% of the loan amount) and closing costs (2%-5% of the purchase price); 3) Compare loan types like fixed-rate or adjustable-rate mortgages (ARMs); 4) Obtain a pre-approval letter from multiple lenders to strengthen your offer; 5) Negotiate terms with your real estate agent and lender.

Post-purchase mortgages require careful financial planning to ensure eligibility and favorable terms. A credit score above 760 significantly reduces borrowing costs, as data from Experian (2023) shows borrowers with scores in this range secure loans at 0.5% lower rates than those with scores below 620. Saving for a down payment is critical because lenders prefer buyers with 20% equity to avoid private mortgage insurance (PMI), which adds 0.5%-1.5% to annual premiums. The Consumer Financial Protection Bureau (2022) reports that 68% of homebuyers use a down payment of at least 10%, but 20%+ is optimal for avoiding PMI. Loan type selection matters due to interest rate disparities; fixed-rate mortgages offer stability, while ARMs provide lower initial rates (Federal Reserve, 2023). Pre-approval letters increase offer acceptance by 40% (National Association of Realtors, 2023), and shopping 3+ lenders can save $50,000+ over the loan term (Bankrate, 2023). These steps balance risk mitigation and cost efficiency, aligning with post-purchase financial priorities.