First-time homebuyers take note. Prior to making the plunge, contact us to help map your financial strategy before applying for a mortgage. Heres our suggestions on the five signs... 1) Pre-Qualify vs Pre-Approval. Ask us to pre-qualify your income and review your credit. Getting a mortgage pre-approval from your bank may just amount to a rate hold that you may not be approved for later once your income documents and credit history are reviewed in detail. 2) Track vs Budget. Track all your current expenses for three months, then ask us to review your housing budget. Well let you know if youve missed some expense items and then calculate your debt-service ratios. Our analysis will give you a better idea, or confirm, how much downpayment you will need. Well aslo give you some advice on establishing credit or rebuilding your credit history if needed so you will be ultimately guided towards the A-lending space where the best mortgage terms are found. 3) Customize the Home You Need into the Home You Want. Well help you with your financial calculations first so that you can eliminate looking at properties that are out of reach, thus saving you time and disappointment. Keep in mind that we can also wrap a renovation budget into your mortgage so that you can improve or customize the home you buy to your taste. Our network of professional contractors and building trades can help with that - and we can arrange up to 15% savings on building materials too. theglobeandmail/globe-investor/personal-finance/mortgages/five-signs-you-are-ready-to-take-the-home-buying-plunge/article19986629/
Posted on: Wed, 13 Aug 2014 17:38:48 +0000
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