How much can I afford?

Now it is time to select a mortgage lender.  I strongly recommend that you select a lender based on the recommendations of someone you respect and has knowledge about the Lenders, either your Agent or someone who has actually recently gone through the loan process will steer you in the right direction

You'll want to meet with a mortgage lender as soon as possible to make sure you understand every aspect of the loan process.  Getting 'Pre-Approved' is simple to do and makes you more comfortable knowing exactly what you can spend. 
As a result you should know:

• your maximum purchase price
  
  
• your complete monthly payments
  
  
• an estimate of how much cash you will need
  
  
• what supporting documentation you will need
  
  

Once you have selected your Realtor/Agent, you will be directed to a respected Mortgage Lender.

Most lenders can get you pre-approved for a loan even before you have selected a home. Your loan will be approved "pending a property appraisal". Pre-approval makes you, the buyer, much more comfortable knowing that you won't find your dream home only to have the loan turned down. The sellers are also more likely to deal seriously with you on the sale if they know that you are a qualified buyer.

Next ->

House Hunting?

With a single email, you can get all the real estate listing information you need on any MLS property listing you want, regardless of which Real Estate company listed or advertised the home for sale. Check out our Quick Search Program.

Royal LePage
Shelter Foundation
Together we can support our community
Find out how

Recipient of
"Paul Harris Fellow"