Thinking of Buying a Home?
Whether you’re buying your first home or your fifth, here are a few tips to get you started.
GET MORTGAGE PRE-APPROVAL
Talk to your bank to find out how much of a mortgage you can obtain. You’ll be required to provide verification of income, how much money you owe (credit cards, car loans etc.), as well as other information such as confirmation of investments or other assets. The bank reviews all your information to see if you qualify for a mortgage and if so, how much financing they will provide. You’ll have to go through this process at some point, so you may as well know up front how much you have to work with. That way you won’t be looking at properties you can’t afford to buy.