A Beginner’s Guide To Securing A Mortgage

By  Dwight Trafford |   | Posted in " Debt Consolidation, First-Time Home Buyers, Mortgage Broker, Mortgage Financing Needs, Mortgage Information, Mortgage Renewal "

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Successfully obtaining a mortgage is one of the first steps you need to take towards fulfilling your dream of homeownership. However, to obtain a mortgage, there’s a process that has to be followed, and a majority of first-time homeowners do not know how to go about with it.

As a mortgage specialist In Orangeville, I believe in educating clients as much as helping them. Be relying on my over two decades of experience, I have formulated a Beginner’s Guide to securing a mortgage pre-approval, which is one of the first steps towards obtaining a mortgage. By following this guide, a client will be better prepared to buy your first or subsequent home.

Getting Started

Hire a professional mortgage broker: While getting a mortgage on your own is possible, enlisting the services of a trusted mortgage professional can expedite the entire approval process when the ideal home is located for purchase. You will also receive expert advice and tips and tricks that will be beneficial to you.

Be honest: Tell your mortgage broker everything you know about your finances. By being honest with your mortgage broker, you will leave nothing to chance as they will look for products that match your situation.

Next Steps

Get your paperwork in order: You will be asked for documentation to support your reported income as well as proof of the funds being used for the down payment. Make sure you gather your paperwork in advance so that there is no last minute running around.

Have your paperwork checked: Having the proper paperwork reviewed by your mortgage broker is a great idea. Once it’s checked, having it checked by a lender is the next step. Having a lender check your documentation is imperative before you start the homebuying process as you will know how much of a mortgage you will qualify for.

Do your research: Buying a home requires a significant investment. Ensure it is a prudent investment by researching the marketplace where you intend to buy in. Having a trusted real estate professional on board could benefit your cause.

Advice From The Pros

Make informed decisions: Buying a home is not an overnight decision. The chances are that your purchase will be your residence for an extended period. The last thing you want is to be unhappy with your home and be burdened with mortgage payments for a house you dislike. I strongly suggest that you take your time and not be in a hurry. You should also work with people you trust. While selecting a mortgage broker, realtor, and lawyer, ask for referrals from people you know.

As a mortgage specialist In Orangeville, my goal is to exceed your expectations. For the past twenty-five years, I have been providing my clients with all the mortgage-related information they need to make well-informed mortgage decisions. If you’re looking for the best rates and mortgage products to match your needs, visit my website or contact Dwight Trafford today.