What sort of Mortgage payment can I afford?

Are you out there?

Are you new to the process or haven't done it in a while?

Are you feeling nervous?

Are there lingering trepidations?

If you are looking for a new home, be sure you are pre-approved. It will alleviate most of the fear in the process.

With a mortgage pre-approval, a professional can do a more complete verification prior to sending you shopping for a home, and with that done, the dollar figure you are going shopping with is actually what you can spend.

This not only helps you out, but the Realtor is more informed as well which makes the whole process smoother. They can dedicate time knowing that you can afford a place in a certain price range and not have to worry if it will fall through based on Income.

The mortgage professional that you work with to get pre-approved will let you know for certain what you can afford based on lender and insurer criteria, and what your payments on a specific mortgage will be.

Licensed professionals can lock-in an interest rate for you for anywhere from 60 – 120 days while you shop for your perfect home. With that rate locked in, you are guaranteed to get a mortgage for at least that rate or better.

If interest rates drop, your locked-in rate will drop as well. However, if the interest rate goes up, your locked-in rate will not, ensuring you get the best rate throughout the process.

In order to get pre-approved for a mortgage, We'll require a short list of information that will allow us to determine your buying power.

We will explain to you the benefits of shorter or longer mortgage terms, the latest programs available, which products we believe will most likely meet your needs the best, plus we will review all of the other costs involved with purchasing a home.

There are a lot more intangible costs to a purchase above and beyond down payment and legal fees. Write me a quick email to koyhenart@shaw.ca  and I will send you a quick .pdf file with a list of things often forgotten in the hysteria of moving and purchasing.

Getting pre-approved for a mortgage is something every potential home buyer should do before going shopping for a new home.

A pre-approval will give you the confidence of knowing that financing is available, and it can put you in a very positive negotiation position against other home buyers who aren’t pre-approved.

It is quite often one less stress that you have to deal with and guaranteed you will sleep better at night knowing exactly what you can afford comfortably.

Need more information on the whole Home buying experience?

visit my website at www.kevynoyhenart.ca and feel free to download all of the available information that I make available to you, my adoring public.

Until next time...

Kevyn