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Start With The Money!

You want to buy a home. What is the first thing you should do? Number one is to find a good Realtor. The next step is to start with the money!

How much can you afford? You need to consider not just how much mortgage you can be qualified for, but can you afford the utilities, property taxes, on-going home repairs (there are always on-going home repairs!). Even consider commuting distances to employment and transportation costs!

Get your down payment together. This can include funds you have on hand and possible proceeds from the sale of an existing home.

Now get pre-approved by a lender or a reputable mortgage broker. This will "pre-qualify" you for a particular mortgage amount and is in the form of a document.

Remember that a good Realtor can point you in all the right directions to consider and accomplish the above! Now get shopping and find your next dream home!!

Thanks for reading!

By Patrick Murray 

One Response to Start With The Money!

  • Bill Orr says:

    Getting pre-approved plays a significant role in a buying process. A lot of people just look at homes for sale in mississauga without speaking to their lender or a mortgage broker. Then, when it comes time to put in an offer they can't qualify for a home they just fell in love with. Any good realtor should tell their buyers to go get pre-qualified at their lending institution or refer them to a mortgage broker.