An important ingredient in a successful home search is knowing how much you can afford. You don’t want to fall in love with a property only to find out it’s outside your price range.
As one of the best real estate agents in Kawartha Lakes, I highly recommend getting a Mortgage Pre-Approval to ensure you have a clear idea of your budget. This is a document from your bank or other lender stating how much of a mortgage they are willing to give you. There are two advantages to getting this pre-approval:
- It gives you the peace-of-mind of knowing you can afford homes you view on the market, and won’t have problems arranging financing last minute.
- It’s a sign to sellers that you are a serious, prepared buyer – which gives you the edge when making an offer.
You can arrange for a Mortgage Pre-Approval with your bank or other lender, or by working with a good Mortgage Broker. I will help you prepare for the home buying process by connecting you with well-respected mortgage brokers, lawyers, inspectors and any other resources needed to facilitate your purchase and move.
How Much Home Can I Afford?
Banks and lenders use specific criteria to determine how much of a mortgage they’re willing to offer you. They look at your income, expenses, credit history and employment status, as well as the down payment you plan to make on a home. It may seem like a scary process, but it is actually straightforward. You can usually get a Mortgage Pre-Approval in a day. You’ll be glad that you did.
By knowing what you can afford, you can confidently shop within that price range
Whether you’re a first-time homebuyer or a seasoned investor, working with an experienced One Percent Realty agents in Kawartha Lakes can make a significant difference in the home buying process. So if you have questions about arranging financing? Please submit the form below or call or email me.
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