Shopping for a home is an emotional experience especially if you are out looking at a property that you get your heart set on but later find out that it is out of your budget.
Before you even pursue open houses, online listings or drag a spouse, friend or a realtor around the city to look at properties, it is highly essential to have a mortgage pre-approval in writing. A qualified independent mortgage broker will ask you questions, review your credit, income, assets, and liabilities and get you pre-approved for a mortgage within a couple of days.
By going through this process, it will help you determine a realistic budget for purchasing a home while factoring in other monthly expenses as well. There are times when a client may want- or need- to tweak one or two parts of the mortgage pre-approval process such as credit, employment or increase savings for the down payment and closing costs. The sooner you get on a mortgage pre-approval, the faster you are guaranteed to purchase the property of you choice.
When purchasing a home, there are many things to consider along the way. It is my job to make sure you are well aware of all your financing options and feel comfortable with implementing a solution to suit your needs. The most common needs are:
Pay off the mortgage as soon as possible
Have access to flexible pay down options that allow the mortgage to be payed off faster.
Make payments affordable enough so you are able to still save for retirement.
Remain financially comfortable to still save for big purchases, trips etc.
Here are just a few of the situations we can help you with:
First Time Home Buyers Repeat Buyers First Investment Property Second Home Multiple