Home Purchase And Pre-Approval

In your search for a new house, getting pre-approval for a mortgage can be an important step to take. After many years of experience, Mortgages For Health Care Workers is very well aware of the difficulties you may face in the mortgage process and wants to help you get the financing you need for your dream home. Consulting with a mortgage specialist and obtaining a pre-approval letter from a lender gives you the opportunity to discuss various financing options, mortgage products, and can help you with budgeting. This step is able to help you confirm your total house budget and the monthly payment you can afford. Before pre-approval comes prequalification, with it, you are asked to provide an overview of your finances, income, and debt to a mortgage lender. However, the lender doesn’t verify the financial information you have provided. Thus, a prequalification is a great starting point to determine your budget but carries no weight when you make offers.

A pre-approval involves filling a mortgage application and providing your Social Security number so that a lender can do a hard credit check. They pull your credit report and credit score to assess your creditworthiness before deciding to lend you the money. These hard credit checks are recorded on your credit report and can impact your credit score. You will also have to list all of your bank information, income, employment history, assets, debts, and other important details for the lender to verify. The lender will poke and prod into all corners of your financial life as a way of trying to ensure you can repay your mortgage, but it also helps them determine the interest rate and ideal mortgage type for your specific needs.

Mortgages For Health Care Workers wants to help you understand how going through the pre-approval process can help you identify credit issues and potentially give you time to work on it. Thus, when you are ready to make offers, a seller can see your mortgage pre-approval to show that you are a serious buyer and have taken the steps necessary to get the finances you need for the house. If you are looking for an accredited mortgage specialist for healthcare workers in Vaughan, reach out to me at (647)-684-2273 or email me at sal@mtgcare.ca. Get in touch with me today and discover how I can help make your home buying experience a great one. I offer services such as home purchase and mortgage pre-approval, bruised credit mortgage, debt consolidation or refinance mortgage, rental property mortgage, self-employed mortgage, and mortgage renewals to clients across the Greater Toronto area, Surrounding Cities all over Ontario.

To learn more about the services I offer, please click here. To get in touch with me, please contact me here.