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Buying a home is the largest purchase most people make during their lifetime. At Dominion Lending Centres Mortgage Force, we want to educate each and every client with the mortgage process. We strive to provide info not only about getting a mortgage but also about buying a home. The home buying process is typically split into a few steps outlined below:
A mortgage pre-approval is when a potential mortgage lender looks at your finances to find out the amount and interest rate they will charge. This helps our clients know the maximum amount of a mortgage they can qualify for, estimate their mortgage payments, and lock in an interest rate up to 120 days. Pre-approvals not only help budget for your future mortgage but also for your property tax payments. Pre-approvals can help identify potential problems that should be taken care of early in the application process.
Whether you’ve saved for your down payment or not, if you’re seriously considering buying a home in the near future, then it’s time to get pre-approved.
You should get a pre-approval even before you meet with a realtor and start looking at homes. This will enable you to set realistic expectations in terms of affordability so you don’t get caught up looking at houses that you love but can’t afford.
When you are pre-approved for a mortgage in Edmonton, you’re beginning the application process for the mortgage. To provide you with a pre-approval, a lender reviews your income, the source of your down payment, your assets and liabilities, and inspects your credit report to determine your credit-worthiness.
In addition, getting pre-approved will allow you to act quickly once you do find your perfect home, and may give you and your realtor more confidence when placing an offer.
At The Mortgage Force Team, we make sure to spend the time and effort during your pre-approval process. In some cases, prospective lenders may not do their due diligence and completely review your financial situation to guarantee that you are in fact eligible for that specific mortgage. The Mortgage Force Team will carefully spend the time and effort to review your mortgage pre-approval application so that you can have peace of mind when looking for a new home and not be caught off guard by any unwanted surprises.
The Mortgage Force Team – Edmonton Mortgage Brokers
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The Mortgage Force Team Edmonton -Dominion Lending – Edmonton Mortgage Broker – info@mortgageapplyonline.ca
I have worked with Jody & Sunny over the last 4 years on various residential real estate files.They are a great team of professionals who believe in educating their clients throughout the entire home buying process from start to finish. I highly recommend the Mortgage Force Team for anyone looking for their next mortgage.
I love dealing with the mortgage force team! They are informative, answer any questions I have and guide myself and my clients through the process. They make things so easy!
Being a single mom with rent, groceries, and all the living expenses to cover, I was not able to save up any down payment. Jody was actually able to put me in a program which allowed me to borrow my down payment from the line of credit I had. Thanks to her, I took possession my new condo on Nov 11, 2015
I wanted to thank them for getting us in the home of our dreams. Its rare these days to experience such quality of genuine care and service. Thank you
Jody and her team were a great help in finding the best mortgage for us. really appreciate the work they do for the client
