As an Oshawa mortgage broker, I continue to dedicate my time to educating my clients as I help them find the perfect mortgage for their home financing needs.
Throughout my years in the mortgage industry, I have learned that while a lot of people research different home financing options before they meet with a mortgage broker, there are often a few things that are missed during this research that their mortgage broker wishes they knew.
If you are looking to purchase a home in the near future, take a look at the list below to find out what your mortgage broker will wish you knew before you got started with the mortgage process!
_ Always call your mortgage broker first! An excellent mortgage broker will want to be there to guide you through the entire process and will want to be kept in the loop on all matters that concern your finances and thoughts about the home-buying process.
_ Educate yourself on down payment requirements. Whether this means asking your mortgage broker right out of the gate or doing your own research beforehand, don’t wait until the last minute to find out your down payment funds can’t be used because they don’t follow financial regulations.
_ Find and hold onto ALL documentation. If you know you will be purchasing a home, do not discard any important documentation. Your mortgage broker will be able to provide you with a list of what they will need in advance, but it is better to be safe than sorry. Holding on to important paperwork will make things much easier as you progress through the process.
_ Don’t make any drastic or sudden changes. Don’t quit your job. Don’t buy a car. In some cases, even purchasing larger items you plan to use in your new home can mean the difference between getting approved or denied for your mortgage.
_ Mortgage brokers can’t do everything. While mortgage brokers are home financing superheroes most of the time, there are a few things we are not able to do. Mortgage brokers cannot approve your mortgage or determine the loan amount you will receive. It is, however, our job to work with top-rated mortgage lenders to ensure that you are getting the best options for these things.
If you are looking to purchase a home in the near future, it is also important for you to know that as an Oshawa mortgage broker, you will always be my top priority. Give me a call today to find out more about the mortgage process or to get your loan application started today!