Choose an Experienced Mortgage Specialist
Just like in the real estate business, a seasoned pro will have a better handle on how to manage tricky details that may arise in your financial status or credit history. When it comes to your largest purchase, play it safe. Be the beneficiary of your mortgage specialist’s wisdom, rather than part of their learning curve.
As a team, we work with Mobile Mortgage Specialists from all of the major banks, who will be happy to connect with you at your convenience. Let us introduce you to someone we trust. The conversation is free.
When you’re serious about shopping for a new home, mortgage pre-approval lets you know in advance how much home you can afford and what monthly payments to expect. You’re under no obligation to a lender who pre-approves you, even though they have made an actual commitment to loan you money (subject to certain conditions). Mortgage pre-approval provides you the peace of mind to make an offer on the right home as soon as you find it. Solid financial backing helps ensure that offer will be taken seriously.
Read the Fine Print
Getting the best rate is important to you as a borrower, but your mortgage specialist needs to focus on the fine print as well. Understand the terms and conditions of your mortgage as these can vary considerably. Can you adjust your monthly payments, pay a large lump sum or take a payment “vacation”? You will want to know in advance!
Keep Your Expectations Reasonable
Your mortgage broker works with your credit history. If you perpetually default on bill payments, there is only so much they can do in terms of your rate. A low credit score paints you as a financial risk, and lenders aren’t going to offer the same rates they give their “A” List clients. The lowest mortgage rates are reserved for those who earn them!