I know, I know, you’re not quite ready -that’s ok! You don’t want to waste anyone’s time and I get that. I have to tell you something bluntly though – you are wasting your own time! It sounds harsh but trust me, it is true. By NOT taking this time to get yourself a trusted mortgage professional and learning about your own financial picture, you are simply not using your time efficiently. That’s right…that financial picture is YOURS to be discovered and we are here to help! (pro tip: if someone is making you feel like you are wasting their time, find someone else who loves what they do and is happy to arm you with information)
Whether you want to deal with a Specialist right in your branch or a Mortgage Broker who works for multiple lenders, make the call and get to know where you stand. The number of products out there can be overwhelming, the number of people out there offering to help can also be overwhelming. Here is WHY you absolutely MUST get yourself a pre-approval and here are my tips to finding the right help;
Do I Reeeeeally Need a Pre-Approval?
– a pre-approval is the only accurate way to know how much house you can afford
– it will highlight any potential issues that may affect your ability to obtain a mortgage
– your Realtor will trust you are serious about purchasing a home which will provide a much more targeted service
– it gives you strong buying power (read further to learn about buying power)
– like I mentioned, these are YOUR numbers and they belong to you so go get them, Tiger
5 Tips in Finding Your Mortgage Match;
5. contact someone from your branch AND a broker because they can offer different options & products
4. contact and meet with more than ONE professional, keep in mind you are interviewing them – the power is in your hands
3. do your research, ask questions, use online tools (I have one on my website 😉 www.robynveber.ca) *if you get overwhelmed by researching these details on your own…no problem at all….that’s what we are here for….ASK QUESTIONS!!*
2. compare rates
1. my number ONE tip is to listen! When you find someone you trust, listen to their suggestions on how to better your credit score and the information they provide because it is all a value to YOU
I want to note, in today’s market (let’s be honest, these market conditions aren’t specific to today, this is the way we have been doing real estate for more than 3 years now and there is no indication of change in the near future) you absolutely NEED all the buying power you can get.
What is buying power? Well, it comes in various forms. Buying power can mean your own personal confidence in the decisions you are making. It means home owners TRUST you that you can not only afford their home but that you can close out the transaction with ease. Most importantly, buying power is your safety net when we are competing against other buyers….we MUST know your ceiling. Nothing hurts more than missing out on your dream home by a matter of a few thousand dollars but it hurts even more when those few thousand dollars were within your reach!
Here’s another little tidbit to keep in mind as a home owner looking to make a move – part of the process includes knowing what kind of equity you have in the home you currently own. Quite often in this market you are making offers on your ‘new’ home with a condition in the offer to sell the home you own (this is called a Sale of Buyer’s Property clause aka SBP). Being in this position can really put the pressure on what you sell your home for in order to purchase the home you want. Knowing your flexibility is, again, power! You must be able to understand where you stand financially in order to get what you want in real estate.
Two things are very true in real estate, you live in your layout, not your square footage AND you live in your payments, not your mortgage! This means, know your rates, know what each thousand dollars actually means to you and you will be the baddest ass on the block getting exactly what you want 😊
When you are ready to meet your match, let me know, I work with some absolutely amazing professionals who are experts in this industry and love using their skills and knowledge to help you!
Now go own your buying power like the Boss you are!