Are you tired of paying the mortgage of your apartment building’s owner? Are you ready to make the leap and become a homeowner? You might feel totally ready, but, in my opinion, the first step you need to take before you go home or condo shopping is to get yourself pre-approved.
A pre-approval allows you to find out:
- How much you can borrow
- The fees associated with buying a property
- The Home Buyers Plan (HBP) guidelines
- The options available in the mortgage market
- The amount of your monthly payments
- The money will you need for a down payment
By securing a pre-approval, you will also be guaranteeing a rate.This protects you from any increases that may occur while you are shopping for your dream home. It will also give you the opportunity to prepare the necessary paperwork, which will facilitate the mortgage application process.
In sum, pre-approval is a crucial step! You will already be busy shopping for the property, planning your move, getting the home inspected, etc. This is already stressful enough; securing a pre-approval will help you avoid any bad surprises or potential complications associated with the mortgage process.
Working with a mortgage broker from Planipret for your pre-approval will allow you to complete all of these steps, and our services are completely free.
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