Here's how to get a mortgage and get the best possible interest rate when you do. What is the process for getting a mortgage? Getting a mortgage can seem hard, especially if you’re a first-time home buyer. The key to making the process go smoothly is preparation. Here’s the step-by-step process you can expect when you get a mortgage: Assess your finances. The state of your finances — how much debt you have, your income and other factors — will help you figure out how much house you can afford. Improve ...