Congratulations you're ready to Buy a new home...
Buying property means you’ll be making a number of important decisions. My expertise of local areas and fast changing market conditions are important, as well as making certain you'll understand each and every step of this complex process.
First contact a mortgage professional
Do you use a Bank or Mortgage Broker whats the difference?
Represents you, the customer, not the lender. This is important to understand because they are not employees of any particular lending institution, hence can shop around and present you more than one choice.
- they are not limited in the products they can offer you nor the location the lenders or they work from
- they know of lenders you wouldn't even think of, including location-specific lenders, such as credit unions and private lenders, who have niche lending areas and products.
- 'choice' for you means they can seek out the best lender package to suit your specific situation, whether it's with a chartered bank, trust company, insurance company or from private lenders and it is their job to know where the best mortgage rates Alberta can be found.
Contrast this to a visit to your own bank:
- They work for the Bank and not you
- You have to do the shopping around (go to different banks etc.) which can be time consuming
- Their rates often aren’t as good as mortgage broker rates
- If your credit score isn’t up to snuff, they might not take you on
The lowest rate is not always the best option, talk about hidden fees, payout penalties and limitations to how much you can put on the mortgage each year.
Once you have pre approval from your lender
You will know the price of home you can afford and how much the payment will be monthly.
A deposit is put down as a show of good faith, at the time of any offer. This will be given to the Selling Brokerage to hold in a trust account, then forward to your lawyer to be part of the money for the purchase.
Now we find you the perfect home!!!