It’s so very important to have your financing in place BEFORE you start shopping for your new home. What you don’t want is finding your dream home, then finding out its beyond your budget..
I have been a real estate agent for 26 years, and one of the things I always suggest to my clients is for them to contact their financial institution or a mortgage broker and get their financing pre-approval in place prior to going out house hunting. There is nothing worse that a couple finding their dream home, only to find out it is out of their price range and they can’t afford to buy it.
Recently, I was working with a past client who was looking to sell her Townhome and buy a detached home. After working with her in the past, and knowing her for more than seven years, I knew she was financially sound and would have no problem getting a mortgage. I still however, advised her to get in touch with her mortgage agent and get her pre-approval in place.
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