GET A MORTGAGE PRE-APPROVAL
An important component in a successful home search is knowing how much you can afford. You don’t want to fall in love with a property only to find out it’s outside your price range.
That’s why I recommend getting a Mortgage Pre-Approval. This is a document from your lender stating how much of a mortgage they are willing to give you. There are two advantages to getting this pre-approval:
- It gives you the peace-of-mind of knowing you can afford homes you view on the market
- It is presented to sellers when you write an offer and shows them you are a serious, prepared buyer – which gives you the edge when making an offer.
You can arrange for a Mortgage Pre-Approval with your lender or bank, or by working with a good mortgage broker. I’m well-connected in the local real estate scene, and am able to recommend a reputable mortgage broker or lender, so please contact me for my Preferred List of Lenders.
HOW MUCH HOME CAN YOU AFFORD?
Banks and lenders use specific criteria to determine how much of a mortgage they’re willing to offer you. They look at your income, expenses, credit history and employment status, as well as the down payment you plan to make on a home. It may seem like a scary process, but it is actually easy and straightforward. You can usually get a Mortgage Pre-Approval in a day, and you’ll be glad that you did!
Have questions about arranging financing? Please submit the form below or call or email me!