Mortgage Blog

Getting you the mortgage you deserve

Taking your time to purchase?

February 1, 2018 | Posted by:

Do you want to make a move in 2018, but aren’t ready to do so tomorrow or maybe even next month if that perfect house doesn’t come along? Or are you waiting to “see what the market does?” You may have some time to get yourself to be an ideal Mortgagor.

1. Clean up existing debt
Any debts against your name can affect the ability to qualify. Take the time to clean up past money owing, pay off credit cards that may not be used anymore and keep current with payments on cards actively used.

2. Continue to save money
Whether it be to continue to save more down payment or to have some extra cash for movers, legal fees, new furniture etc. It is always nice to feel like you are not giving your entire savings towards the purchase. There are always unexpected costs that can come when making a move so continuing to save while you house hunt can leave you comfortable upon moving in. 

3. Keep up with the pre-approval
If the 120 days is close to times up, make sure your Mortgage Agent is refreshing your application to ensure financial security for when it comes time to make an offer. There is no better feeling than going into a stressful and exciting time knowing that your finances are in order.

4. Search within your means
We all know someone who has viewed a home above their budget and fell in love. Now more than ever with these new rules it is so important for buyers to be speaking with a Mortgage Agent, knowing what they can afford and knowing the outcome if they do try to stretch outside their means.

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