The following article gives tip on choosing a mortgage broker in Calgary and where to find the best home search websites. Do you like window-shopping? Personally, this author despises window-shopping! There’s nothing worse than wandering through stores looking at clothing or boots or dishes or car mats and not being able to buy anything. It’s a waste of time, gas (unless I’m walking), and is an assault on my sense of contentment with what I have. Here’s only one exception where I’ll willingly go window-shopping, and that is when I need something that I don’t know the price of. I’ll head off to the store if I can’t find it online, and sleuth out the best place that has the best price for what I need to get. If I don’t have the cash right away, I now know what to save up for and then go back and buy it.
Entering the market for a home can be very similar. A realtor can take you on tours around Calgary, showing you all the places that are available, or, they can take you on a tour of places that meet your specific needs only, allowing you to learn just how much you need to save up for to have the necessary down-payment. There’s just one major difference between house-hunting and window-shopping.
With window-shopping, you already know what you have in the bank, how much your next pay cheque will be, or what you have in the change jar at home. With house-hunting, it’s a good idea to learn what you qualify for before you head out to look at the market. This is called pre-qualification or pre-approval. In this process, your Fort McMurray mortgage broker will guide you through a series of questions that help them ascertain just how much lenders will be willing to give you should you find the home of your dreams. This isn’t necessarily the exact amount you’ll get if you find that home, but it gives you a ball-park figure to work with as you look at what’s available. If that doesn’t work, try out this Edmonton Mortgage Broker instead.
You’ll need to have proof of employment and how long you’ve been at that job, proof of the salary you earn at that job, proof of your available down payment, financial statements, including things like credit card debt, car loans, consolidation loans, and lines of credit, alimony or child support amounts, and more. Your Calgary mortgage broker will give you a list of what to bring with you to this pre-qualification appointment.
Once you qualify, your Mortgages For Less mortgage broker will tell you how much you can request from lenders. Now you’re free to go house-hunting.