Being approved for a mortgage is an exciting time. Suddenly, the world of home ownership opens up and you can start hunting for your dream home. Before you break your budget, remember that there are other circumstances that may have an impact on your finances in the future. There are key factors to consider before taking out the maximum amount of your mortgage preapproval.
There are many ongoing expenses associated with owning a home. You’ll need to prepare for yearly property taxes—which will most likely increase on a regular basis. You’ll also need money for upkeep and repairs on the property, insurance, utilities, and other bills. If you’re planning on starting a family, remember that your income will dip for at least a year. Although interest rates are low right now, they may be higher by the time you renew your mortgage, increasing your monthly payments.
A low interest rate is obviously a priority when you’re dealing with the biggest purchase in your life. Before you sign on the dotted line, consider the quality of service that your lender offers. You want a lender who will answer your questions and, if they don’t have the answer, make their best effort to get your answer quickly.
Canadalend offers transparency throughout the Canadalend mortgage approval and signing process. You’ll be guided through your options so you can make the right choice for your current circumstances and your future plans.
While banks may turn down those who are self-employed or have bruised credit, Canadalend’s mortgage approval process understands that those circumstances shouldn’t be a barrier to home ownership. If you don’t have an established credit history because of youth or immigration, Canadalend may also help you secure mortgage approval through a lender or private funds. And, as always, Canadalend’s mortgage approval process is geared to get you approved quickly so you can start house hunting.
Choosing a Trusted and Established Lender
It’s important to check out the reputation of the company you choose before signing a mortgage. Canadalend believes in transparency and has testimonials available on their website so you can compare experiences of former customers. When you’re applying for mortgage approval, you can also ask for additional testimonials and references. Speaking to other customers will give you a glimpse of the high-level quality of service that you can expect with Canadalend.
Mortgage preapproval is just the first step toward home ownership. While buying a home is an exciting time, it’s important to ensure that you’ve chosen a lender who will make their best effort to confirm that you understand the mortgage process and receive the lowest interest rates. Mortgage approval from Canadalend ensures that you are working with experienced, friendly professionals who offer a high-quality of service.
When you contact Canadalend, you can expect friendly, professional service and mortgage approval within 24 hours.