First Time Buyers
“First Time Buyer’s Month” via RAHB.
“Meeting with your Mortgage Broker for the First-Time”
“What to Bring:
The first meeting with a mortgage specialist can sometimes be overwhelming. A great way to help make the first meeting more relaxed is to be prepared and have certain documents that are necessary to determine what type of mortgage you can qualify for on hand.
Every mortgage professional is a little bit different; however, the majority of mortgage lenders are looking for information that shows them whether you:
- Can repay the mortgage, and
- Can show a track record of reliably paying other people you’ve borrowed money from.
In summary, in terms of documentation that you will need to bring, they will show what income you have and how it’s structured.
Please click the button below to access more information on what you should bring to your first meeting with a mortgage specialist: What to Bring?
Advice from a Mortgage Specialist:
When speaking with a mortgage specialist from TD Bank, he recommended the following for a first-time home buyer:
Firstly, do not rely on online “mortgage calculators” as these online calculators are only as good as the information that is being inputted.
Secondly, mortgage specialists generally assume that all first-time home buyer clients are starting “green.” In short, no mortgage specialist will assume that you already know all the facts or are able to ask detailed or specific questions right away…”
To read the full article, click here.