Financing Your Home Purchase

By
Real Estate Agent with Ralph Henze Homes - RE/MAX Elite

            Financing Your New Home

The next step before actually looking at homes is getting mortgage pre-approval from a bank mortgage broker or an independent mortgage broker.  This will either tell you how much they will lend you and at what interest rate, or what you need to do before you can borrow and get pre-approved.  They typically look at things like your income, the amount available for a down payment and your credit history.

Financing Your Home

Having pre-approval gives you a better idea of which homes you should look at and can afford and it lets your realtor know that you are a serious buyer.

There is nothing worse than finding out after an offer is made that you can not get the financing and your dream home purchase crashes!

Here are some great sites to use to help get a better idea about mortgages and pre-approval:

CMHC (Canada Mortgage and Housing Corporation)

RBC Mortgages For First Time Home Buyers

TD Mortgages – The Home-Buying Decision

TMG Mortgage 101 Basics

Financing Your New Home

       Step 3:  Housing Options

               

                     Check out my website at:

                 www.RalphHenzeHomes.com

Comments (2)

Todd Clark
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

Not getting pre-approved is a great way to lose your dream home. If you find the home and most home owners won't even look at a offer until you are pre-approved. Then while you are getting pre-approved a qualified buyer brings the seller an offer and you have just lost your dream home because you didn't want to make a call that should take 10 minutes. (If you aren't willing to make that call, then you aren't really serious about buying)

 

Nov 19, 2011 04:33 PM
Ralph & Janet Henze
Ralph Henze Homes - RE/MAX Elite - Sherwood Park, AB

Todd, thanks for your comments on pre-approvals on my first time home buyers blog. 

Nov 23, 2011 08:30 AM