Property prices keep going up with each passing year. There are fewer and fewer new homeowners because of the skyrocketing costs and problems of receiving a large enough loan.

However, even with a troublesome market, this is still a great time to apply for a higher mortgage, as long as you know how to do it the right way. Getting a bigger mortgage is often problematic, but mortgage rates are still low and you can even apply for very large loans.

If you’re looking at the home of your dreams and you know its value will only increase in time but you don’t have access to funds, here are several ways you can qualify for a higher mortgage:

1. Debt to Income Ratio

One of the first things lenders check when you apply for a mortgage is the debt to income ratio. DTI represents how much of your monthly paycheck goes for paying off your debts. Having debt doesn’t mean you can’t get the right mortgage. The majority of lenders will be pleased if your ration is at approximately 35%, however, you might find someone willing to go even higher than that.

The bottom line is, the faster you pay off the debt, the bigger the chance you have of receiving a higher mortgage.

2. Credit Score

Having a higher credit score will benefit you in two major ways. Firstly, you will qualify for a higher mortgage, which means you will have access to the much-needed funds for the new home. Secondly, you will get a loan with a much lower interest rate which will help you with your financial situation.

In order to boost your credit score, make sure to respect the deadlines for all payments and try to keep the applications for credit at a minimum. Don’t max out the credit you currently have, but also stop applying for a new one.

3. Down Payment

You can qualify for a higher mortgage already by making a higher down payment, of at least 20% of the home’s value. The more you pay, the higher the loan. The reason for this is the lack of private mortgage insurance. If you make a smaller down payment, you also need to make monthly payments to PMI, which is meant to protect the lender in case you can no longer make the payments. If you no longer have to waste money on this insurance, you can qualify for a higher loan with a lower interest rate.

4. More Income

The higher your income, the bigger the loan. This can be problematic because not everyone earns a high salary, however, there are certain things the count as income and you aren’t aware of them. Some of these sources are interests from any kind of investment, rental income, child support or any money you make from a side business. Take a look at all your sources of income and declare them to qualify for a higher mortgage.