When you are buying a home, receiving the right financing terms may ultimately be the most integral part of the process. I can help you through the mortgage process and refer you to many good mortgage institutions that will be sympathetic to your needs. As an Agent for L'Expert Immobilier, we even have a dedicated team of mortgage brokers who will get you the most favorable terms on the market, and will be able to scan institutions across Canada for the best rates. Since I have a McGill Bachelors Degree in Commerce, Majoring in Finance, I will be able to help you and advise you through every step of the process.
Pre-qualification
A very important step in the home buying process is getting pre-qualified for a mortgage on a home. This is important because if you will be financing your purchase you will want to know exactly how much "Home" you can afford. I can Pre Qualify you for a mortgage, or I can refer you to an independent mortgage broker who will take care of all your needs. Banks are also reliable places to get pre-qualified for mortgages, however in the end, it might be better to see a separate and impartial mortgage broker who will consider each client request starting as a "clean slate." Meaning that your past history will not be any hindrance.
Down Payment
As part of your offer, you will need to disclose the size of your down payment. Once again, this allows the seller to evaluate your likelihood of obtaining a home loan. It is easier to get approved for a mortgage when you make a larger down payment. The underwriting guidelines are less strict.
Interest Rates
Another reason for including financing information in your offer is to protect yourself. If interest rates suddenly become volatile and rise quickly, as sometimes happens, you may looking at a mortgage payment much higher than you anticipated. By putting a maximum acceptable interest rate in the offer, you are protecting yourself from such an occurrence. |
