Buying a first home is very exciting, but there are several common concerns. By meeting with a mortgage broker from The Mortgage Centre BEFORE you find your desired real estate, you can have a "prequalification" done which will help you very much.
In order to get a first mortgage, you will likely need to provide proof of full-time employment or stable income, a verifiable down-payment and a good credit rating. If you are missing any of these factors, talk to us anyway. We often have the resources to shop for financing regardless of any credit situation.
You need to make sure you have a mortgage you can live with. Talk to us about the various options available that let you customize your mortgage to suit your financial goals and needs.
If you are worried about whether or not you can afford a particular home, rest assured this is less of a concern than you think. Most lenders will ensure that you don't spend any more than about one third of your gross income on your mortgage payments. After all, they don't want you to get into financial difficulties and not be able to repay the loan.
One of our mortgage specialists will be happy to calculate for you how much of a monthly payment you can afford. This figure easily translates into a purchase price figure that you can use when shopping for a home to purchase.
Buying your first home? Looking for Toronto Mortgages? Call today and we will be happy to help!
