Buying a house is a big step for many people and can seem very daunting. That is why it is important to take it step-by-step and choose great professionals to help you along the way. Aside from picking a realtor, you also need to choose a mortgage broker or agent to work with. A mortgage broker can shop around for prices from any bank and private lenders . A mortgage agent/specialist works for a specific bank or lender. You want the best mortgage rate… of course you do! And a mortgage broker can help you find that. Instead of visiting different banks yourself, a mortgage broker will do the rate shopping for you. Whoo hoo!
A mortgage broker will need lots of information from you before they can give you a pre-approval. There are many things that factor in to your pre-approval. Some factors are: current job, buying alone or with someone, and current bills. Extra paperwork may be needed, but don’t worry, the mortgage broker and I will be with you every step of the way. Keep track of pay stubs and contracts from employers. It can help move the pre-approval move along more smoothly.
Now that we know a bit more about what a pre-approval is, this is why it is important. A mortgage pre-approval is the first step when you are ready to start looking for a home. With a mortgage pre-approval, you will have an accurate budget for a house. This allows you to set out a clear plan of what you want in a home and what you can afford. This is very important when house hunting. Throughout this pre-approval process I will be with you every step of the way. If you aren’t sure where to start, let me know! I can connect you with a mortgage broker/agent to help you get going.
Once you know your budget and are pre-approved we can start looking! See a house you love? We can do an offer right away! A mortgage pre-approval allows you to start house hunting fully prepared.
So, what are you waiting for?