The home buyers experience
Your home buyers experience can either be an exciting, stress-free one, or it can be a living nightmare; the choice is yours and attempting to travel this route alone can be fraught with unexpected and sometimes unpleasant financial surprises. The process can begin NOT with finding the house of your dreams but consulting a broker regarding mortgages in Oakville.
Of primary importance for your future financial status is being pre-approved for a mortgage and at the best possible interest rate for which you qualify! A tip for you is to allow yourself at least 7 days in which to finalize the financial issues and even arranging a potential home inspection. This is the time when your Oakville mortgage specialist can start helping you navigate the paper-trail, explaining the details to you at each step. Once completed, the completed paperwork will be submitted to a lawyer of your choice.
The unique home buyer
Like the buyer completing the application, each mortgage application is a unique process. Your Oakville mortgage broker is dedicated to making the purchase of your home procedure as smooth and efficient as possible, from completing the initial application to fulfilling this crucial life-changing experience.
When making the decision to buy a home, a down payment will be required, the amount of which can vary depending upon your credit history. In general, it’s advisable to start with a mortgage repayment that will not over-extend your financial income and lifestyle. This means that when searching for your dream home, stay realistic and don’t be persuaded by the sometimes picturesque scenarios painted by real estate agents! Here again, seek the advice of your Oakville mortgage broker if you require clarification on any aspect!
Seeking buyer approval
Pre-approval regarding your mortgage will be reliant upon the information given by you, together with any supporting documentation. It must be seen as being critical that at this important stage you are completely honest with your Oakville mortgage broker. There are five basic influencing factors related to lender approval;
- Proof of identity
- Employment history
- Credit history
- Value of the proposed property
Keep in mind your friendly Oakville mortgage broker is a highly qualified professional. They have the experience, expertise, and knowledge to assist and advise you regarding what is in your best interests. They will help you to seek approval for your mortgage at the best available rate.