2025 Mortgage Loan Application Guide: How to Get the Cheapest Rates?

Buying a house is everyone’s dream. Especially if you live in a developing country, you always want to have a warm home to lay your head in. For this, you want to study at university, have a profession, get a good job and then own a house. When you reach this stage, you may be a little confused when you start your internet research.

It is especially difficult if you have not graduated from departments that are relatively related to finance, such as economics or business administration. If you have not developed your financial literacy, our 2025 Mortgage Loan Application Guide will be very helpful to you. Because, within the scope of the fight against inflation, issues such as home loan interest rates, crediting rates and application conditions are constantly updated and changed.

Here, we will try to inform you in a language that everyone can understand according to the most up-to-date legislation of 2025. After all, banks provide such home loans within the framework of certain legal regulations under the supervision of official institutions. Recently, some additional restrictive measures have been taken all over the world within the scope of the fight against inflation.

Before reading this article, we recommend that you read our articles on personal loans, the differences between personal loans and business loans, ways to find the cheapest personal or consumer loans, and what to do before taking out a loan. In this way, you will have general information about personal finance management and loans. Afterwards, the 2025 mortgage loan application process will be well-established in your mind. Nevertheless, in this guide, it will be helpful for you to understand the subject by giving you some definitions first.

What is a Mortgage Loan? The Most Basic Information!

The simplest answer to this question would actually be a loan taken from banks or financial institutions to buy a house. If we look at it in detail; basically, a home loan is a long-term loan type offered by banks or financial institutions to provide the money you need for the purchase of a house or real estate, namely financing. This loan allows individuals or families who want to own a house to cover a large portion of the purchase price through the bank.

Thus, the process of owning a house becomes easier and more accessible by keeping the down payment amount lower. The housing loans, are generally fixed in developing countries, but they offer flexible solutions to users with features such as variable interest rates, different maturity options and various payment plans. In this context, each bank evaluates criteria such as credit score, income document status and the financial history of the borrower and provides different loan conditions. In this way, the person who will receive the loan can choose the most suitable option according to their budget and needs.

While we have prepared the 2025 mortgage loan application guide, we would like to provide some detailed information. Let’s not look at the issue as just buying a house to shelter us. In other words, home loans are a preferred method of borrowing or financing tool not only for individual house purchases but also for investment property purchases. With the right planning and appropriate payment strategies, you can increase your quality of life and achieve investment returns by providing long-term economic security. In this respect, housing loans play an important role in both individual and economic growth.

After providing this basic information, if you have income and have found the house you want to buy, it is time to list the housing loan application stages step by step and prepare the necessary documents.

2025 Mortgage Loan Application Process & Required Documents

The idea of ​​buying a suitable house for ourselves first sprouts in our minds. After this, we make our own plans and determine a house that is suitable for our income. Then, if we have money saved up, we compare this money with the price of the house. This is where the home loan application stages come into play. If the money we have is not enough to buy the house we want, we need to take out a loan. In this context, it should be noted that the mortgage loan application process usually starts with a detailed research and preparation phase.

In the first step, it is important to examine the loan products offered by banks, compare interest rates, term options and additional costs.

After selecting the appropriate loan product, the application form will be filled out and the initial evaluation process will come into play. At the point where digitalization has come, most banks no longer use application forms. In fact, it is even possible to make a preliminary application via the internet or mobile applications. After the application, banks evaluate your request. We would also like to point out that with artificial intelligence revolutions such as OpenAI or DeepSeek, these evaluations are no longer made by people, but by artificial intelligence-supported systems that produce.

However, there are some basic documents that banks will obtain from you in a physical or digital environment for housing loans. These are;

• Copy of ID,
• Income document,
• Residence document,
• Copy of the title deed of the house to be purchased and
• If you are not a salaried employee but a company owner, documents such as tax plate and income tax return. If you are a company partner, the company’s tax plate and corporate tax return will be required.

Key Considerations When Applying for a Mortgage Loan

At this stage, we would like to briefly summarize the process from end to end in order to wrap things up. This summary will be very helpful to you.

Although the mortgage loan application process varies from country to country, it basically works as follows.

• You first should find the house you want to buy and ask the owner for a copy of the title deed.
• Then you go to the bank, give the copy of the title deed, your identity document and your income document/salary slip and submit your housing loan request.
• If the bank finds your loan request appropriate, it will inform you and ask for an appraisal fee. When you pay this fee, an appraiser from an independent expert organization will go to the house and examine it. It will also go to the land registry and examine whether there is a lien, mortgage or demolition decision, etc. on the house.
• If there is a mortgage or lien on the house, the bank will notify you of this. You will request the homeowner to remove this note. Banks will not mortgage a house with a lien, mortgage or note on it and will not give you a housing loan.
• Afterwards, the bank will put a mortgage on the house and pay the mortgage directly to the seller. You should talk to the seller in advance about the money to be given outside the bank.

One of the most important steps when getting a mortgage loan application is to examine all the terms and payment plans in the loan agreement in detail. Factors such as interest rates, term, additional costs and insurance expenses directly affect the loan cost. Therefore, it is of great importance to read all the documents carefully and clarify the terms before signing.

How to Find the Cheapest Home Loan?

Individual budget planning is also one of the basic issues to be considered during the loan process. Correctly analysing your income-expense balance allows you to continue your loan repayments without delay. In addition, keeping your credit score high and having a clean financial history helps you obtain more advantageous loan conditions.

In order to determine the most advantageous and cheap mortgage loan application options, it is first necessary to compare the products offered by different banks in detail. Basic criteria such as interest rates, term, additional costs and payment plans are the most important indicators of loan selection. Careful evaluation of these criteria allows you to choose the most suitable option for your budget.

In order to determine the cheapest housing loan options, it is necessary to compare the products offered by different banks, especially public banks, in detail. Basic criteria such as interest rates, term, additional costs and payment plans are the most important indicators of loan selection. Careful evaluation of these criteria will allow you to determine the most suitable option for your budget. The most important thing we need to mention here is that you should log in to the mobile applications of the banks and examine the interest rates, not on their websites. Because banks generally write relatively higher rates, which we call the advertised interest rate, on their websites.

When making comparisons, it is also necessary to take into account the periodic campaigns and discounts of the banks. In particular, special interest rates and flexible payment options offered during certain periods can provide significant advantages to credit users. Online comparison tools and financial consultancy services will guide you in making the right choice in this process.

2025 Mortgage Loan Application Guide: The FAQ

After all these explanations, we wanted to briefly summarize and summarize the 2025 mortgage loan application guide and address the questions and answers that come to mind on this subject. Here are the five most frequently asked questions and answers about mortgage.

1- What documents are required during the Home Loan Application Stage?

• Copy of identity card (national identity card or passport)
• Income document (pay slip, tax return or bank statement)
• Additional documents such as residence document, title deed copy and tax plate (may vary depending on the bank and loan type)

2- How does my credit score affect my mortgage application?

• A high credit score allows you to obtain more advantageous interest rates and payment terms.
• A low credit score may cause your application to be rejected or additional collateral to be requested.
• Making sure that your credit score is up-to-date and healthy offers a significant advantage during the application process.

3- How long does the application process usually take?

• If the documents are submitted completely and correctly, the process usually takes 1-2 days, although it varies from bank to bank.
• A well-prepared file helps speed up the process considerably.

4- How much should the down payment rate be?

• A down payment of around 20% of the total value of the house is generally expected.
• This rate may increase or decrease depending on bank policies or current legislation.
• A higher down payment may reduce the loan amount and therefore your total repayment cost.

5- Can I make an early payment or change the instalment?

• Most banks offer an early payment option, but an early payment commission or additional fee is applied.
• Issues such as changing the installment are evaluated according to the conditions specified in the loan agreement.
• Reading the terms of the agreement carefully will allow you to know in advance the additional costs you may encounter in the future.