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5 Key Financial Factors for First-Time Homebuyers in Canada
January 18, 2025
Buying your first home in Canada is an exciting milestone, but it comes with significant financial considerations. As a first-time home buyer, understanding the key financial factors that influence your ability to purchase and maintain a home is critical. The Canadian real estate market has unique nuances, such as mortgage rules and tax benefits, which further underscore the importance of financial preparedness.
1. Assess Your Budget
Before you start house hunting, it’s crucial to understand your current financial situation. This includes your monthly spending habits and the impact of a mortgage on your budget.
Why It Matters:
Understanding your expenses allows you to set realistic expectations and ensures you don’t overextend financially. Mortgage lenders will assess your ability to make monthly payments without compromising your other obligations.
Steps to Assess Expenses:
- Calculate Your Income: Total your monthly income (salary, bonuses, etc.).
- Evaluate Existing Debts: Add up all your current debt payments (credit cards, loans, etc.).
- Estimate Your Mortgage Costs: Include monthly mortgage payments, property taxes, insurance, and any mortgage insurance.
- Factor in Other Home Costs: Account for utilities, maintenance, and property-related fees (e.g., condo fees).
- Add Personal Expenses: Review your daily expenses like food, transportation, and childcare.
- Plan for Down Payment: Ensure you have enough for a down payment (5% to 20% of the home price).
- Check the 28/36 Rule: Your total housing costs should be 28% of your gross income, and all debts should be under 36% of your income.
Budget for all recurring costs like property taxes, utilities, insurance, and condo fees (if applicable).
https://www.canada.ca/en/financial-consumer-agency/services/make-budget.html
https://itools-ioutils.fcac-acfc.gc.ca/BP-PB/budget-planner-tool
2. Calculate Your Debt Service Ratio
Your DTI ratio is a key metric lenders use to determine your eligibility for a mortgage. It reflects how much of your income goes toward debt payments.
What Is the DTI Ratio?
The DTI ratio is the percentage of your gross income that goes toward servicing debt, including credit cards, car loans, student loans, and your expected mortgage payment.
Why It Matters:
- A low DTI ratio increases your chances of mortgage approval.
- Canadian lenders typically require a gross debt service (GDS) ratio below 39% and a total debt service (TDS) ratio below 44%.
How to Calculate Your DTI Ratio:
- Add Your Monthly Debt Payments: Include all loan obligations and the projected mortgage payment.
- Divide by Gross Monthly Income: Multiply by 100 to get the percentage.
Example:
- Total Monthly Debts: $2,000
- Gross Monthly Income: $6,000
- DTI Ratio: ($2,000 ÷ $6,000) × 100 = 33%
Consider paying down high-interest debt, avoiding late payments, and keeping credit card balances low before applying for a mortgage.
https://www.mortgagealliance.com/en/KomalVij/affordability-calculator/
3. Conduct a Credit Score Check
Your credit score plays a significant role in determining the mortgage rate you qualify for and whether you’re eligible for a loan at all.
Why It Matters:
- A higher credit score typically translates into better mortgage rates.
- Most Canadian lenders require a minimum score of 680 but for the best mortgage rates, a credit score of 700+ is typically recommended. The higher your score, the better your chances of getting approved and securing a lower interest rate.
Steps to Check Your Credit Score:
- Obtain your free credit score from providers like Equifax Canada or TransUnion Canada.
- Look for errors or inaccuracies that could negatively impact your score.
- Address any discrepancies by filing disputes with the credit bureau.
Improving Your Credit Score:
- Pay bills on time and keep your credit utilization ratio low.
- Avoid applying for new credit in the months leading up to your mortgage application.
- Keep your oldest credit accounts open to maintain a strong credit history.
Check your credit score early and address any issues to qualify for better loan terms
https://www.equifax.ca/personal/
4. Understand Pre-Qualification vs. Pre-Approval
Understanding the difference between pre-qualification and pre-approval is critical in Canada’s competitive housing market.
What Is Pre-Qualification?
A preliminary estimate of how much you might be able to borrow based on self-reported financial information. It’s a helpful starting point but not a guarantee of funding.
What Is Pre-Approval?
A formal process where lenders assess your income, assets, debts, and credit score to provide a conditional loan offer. Pre-approval locks in your interest rate for a specific period (usually 90-120 days) and shows sellers you’re a serious buyer.
Why It Matters:
- Know Your Budget: Helps you understand how much you can borrow and sets your home price range.
- Stronger Offer: Makes your offer more attractive to sellers, showing you're financially ready.
- Lock in a Rate: Secures an interest rate for a set period, protecting you from rate hikes.
- Faster Closing: Speeds up the final approval and closing process.
- In most of the cases, it is free.
Get pre-approved for a mortgage to know your borrowing limit and lock in an interest rate.
5. Determine Your Down Payment and Closing Costs
Saving for a down payment and understanding closing costs are essential steps toward homeownership in Canada.
Down Payment Requirements in Canada:
- Homes under $500,000: Minimum 5% down payment.
- Homes between $500,000 and $1.5 million: 5% on the first $500,000 and 10% on the remaining balance.
- Homes over $1.5 million: Minimum 20% down payment, as CMHC insurance is not available.
Closing Costs in Canada:
In addition to your down payment, budget for 1.5% to 3% of the purchase price in closing costs. These include:
- Land transfer taxes (varies by province).
- Legal fees and title insurance.
- Home inspection and appraisal fees.
First-Time Home Buyer Incentives
Canada offers several first-time home buyer incentives to help make homeownership more affordable:
- Home Buyers’ Plan (HBP): The HBP allows first-time home buyers to withdraw up to $35,000 from their RRSPs to put toward the purchase of their home without paying taxes on the withdrawal (as long as the funds are repaid within 15 years).
- Land transfer tax rebates: Available to first-time buyers in Ontario, British Columbia, Prince Edward Island, and Toronto, providing savings on land transfer tax costs.
- GST/HST New Housing Rebate: First-time buyers of a new home can qualify for a rebate on a portion of the GST or HST paid on the home.
- First-Time Home Buyers’ Tax Credit (HBTC) was introduced in 2009 to assist first-time homebuyers with the costs associated with purchasing a home. In December 2022, the federal government doubled the HBTC, allowing eligible first-time homebuyers to claim a non-refundable tax credit of up to $10,000, which equates to a $1,500 reduction in income tax payable.
- First Home Savings Account (FHSA): You may be eligible to save up to $40,000 tax-free to buy a home with an annual contribution limit of $8,000.
- Starting 15th Dec 2024, eligibility for 30-year amortization periods on insured mortgages has been broadened to include all first-time homebuyers.
First-time homebuyers must meet criteria such as not having owned a home in the last four years or having experienced a breakdown in a marriage or common-law relationship.
Save beyond the down payment to cover closing costs, moving expenses, and an emergency fund.
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html
Before you start house hunting in Canada, working with a mortgage broker is a smart strategy to ensure you’re financially prepared. A licensed mortgage broker has access to a wide range of mortgage lenders and can help you compare rates, terms, and loan options that suit your unique financial situation. By getting a mortgage pre-approval, you’ll have a clear understanding of your affordable mortgage payment and can confidently set your home-buying budget. This step also helps avoid surprises, such as qualifying for a higher interest rate or facing issues with your credit score. Whether you're a first-time homebuyer or looking to buy a home in Canada, partnering with a mortgage broker ensures you make well-informed decisions and secure the best mortgage deal available.
With diligent preparation and a proactive approach, you’ll be well on your way to achieving your dream of home ownership.
Have Questions About Your Home-Buying Journey?
Phone: 780-233-8500 Email: komalvijmortgage@gmail.com
Book Online: https://calendly.com/komalckvij/mortgageconsultation
Why Use a Mortgage Broker?
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Unlocking Your Dream Home: Purchase Plus Improvement Mortgage
January 07, 2025
The journey to home ownership is both exciting and daunting. For many Canadians, finding a home that checks all the boxes—location, style, and functionality—can feel like an uphill battle. Enter the Purchase Plus Improvement Mortgage Program, a game-changing financing tool that allows you to buy a home and finance its renovations under one mortgage. Whether you’re a first-time buyer or upgrading, this program can turn a fixer-upper into your dream home.
If you’re in Edmonton or anywhere across Canada, understanding how to leverage this program could save you money and unlock opportunities in the competitive housing market. Here’s everything you need to know—plus some pro tips to maximize its benefits.
What Is a Purchase Plus Improvement Mortgage?
A Purchase Plus Improvement Mortgage is a specialized mortgage product that combines the cost of buying a home with funds for renovations. Essentially, it allows you to:
- Purchase a home that may need updates or repairs.
- Borrow extra money (up to a specified limit) for those improvements.
- Roll the cost into a single mortgage with one monthly payment.
- Purchase with lower down payment.
This type of mortgage is ideal for buyers who find homes that are almost perfect but require modifications, such as a kitchen upgrade, bathroom renovation, or a finished basement, that too with a low down payment.
Why Use the Purchase Plus Improvement Program?
Expand Your Options In Edmonton’s diverse housing market, the perfect home might not be in perfect condition. By using this program, you can consider properties that need a little TLC, widening your range of choices.
Save Money Renovating a home through this program is more cost-effective than using a high-interest credit card or personal loan to finance renovations after the purchase.
Convenience Consolidating your home purchase and renovation financing simplifies your budgeting with one payment schedule.
Boost Your Home’s Value Strategic renovations can significantly increase your home’s resale value, offering a strong return on investment.
Create a Personalized Space Transform your new house into a home that fits your taste and lifestyle.
How Does it work?
Step 1: Mortgage Pre-Approval
Before you begin house hunting, start by getting pre-approved for a mortgage, which will give you an idea of how much you can afford. A mortgage pre-approval is a lender's conditional commitment to provide financing for both the property purchase and planned renovations. During pre-approval, the lender evaluates your financial situation, including income, credit score, debts, and down payment, to determine the maximum amount you can borrow.
The pre-approved amount includes both the purchase price and the renovation budget, typically capped around 10-20% of the home's "as-improved" value.
The lender can lock in an interest rate for 90-120 days, and provides confidence as you search for a home that needs upgrades.
Avoid any major changes to your financial situation before closing on the mortgage. This includes taking on new debt, such as applying for a new credit card, financing a car, or making large purchases on existing credit.
Step 2: House Hunting
Once pre-approved, look for a property that needs upgrades or repairs while including renovation costs in your mortgage. This approach allows you to consider homes that might not be move-in ready but have potential to become your dream home.
Begin by identifying neighborhoods and properties within your pre-approved budget, which includes the estimated renovation funds. Look for homes with solid structures and good locations, focusing on properties that can be enhanced with upgrades like kitchen remodels, new flooring, or energy-efficient improvements.
Avoid properties requiring extensive structural repairs unless you're prepared for a more complex approval process.
As you view homes, think about the renovations you’d like to make and gather rough cost estimates. Sellers may be more willing to negotiate on homes needing updates, giving you an opportunity to maximize value. Collaborate with your real estate agent to identify homes that meet the program's criteria, such as allowing for an increase in appraised value post-renovation.
Once you find a suitable property, submit an offer.
Step 3: Possession and Renovation
Once your mortgage closes and ownership transfers, you take possession of the property. At this stage, the purchase funds are released to the seller, and your lender holds the approved renovation funds in trust. The renovation funds are not immediately accessible; they are disbursed only after the completion of the approved work.
You can start the renovations, which must align with the scope and budget approved during the mortgage process. Typically, you are required to complete the renovations within a specified time frame, often 90-120 days after possession.
Be prepared to finance the initial renovation costs upfront, as lenders release funds only after an inspection confirms the work is done.
Step 4: Final Inspection
Once the renovations are complete, you notify your lender and the lender may ask for an appraiser or inspector to visit the property. The purpose is to:
- Confirm that the renovations match the agreed-upon plans and quotes submitted during the mortgage process.
- Verify that the work has been completed to a satisfactory standard.
Some lenders may not require an inspection and / or may ask to provide detailed invoices.
After the inspection or verification, the lender releases the renovation funds held in trust. Funds may be sent directly to you or to the contractor, depending on the arrangement. The release happens in a single payment, covering the agreed renovation costs.
Once renovations are complete, your mortgage transitions to a regular repayment schedule.
Renovations must be completed within the lender's specified time frame, and any changes to the plan require prior lender approval to avoid delays.
Enjoy Your Upgraded Home!
Pro Tips for Success
- Work With an Experienced Mortgage Broker Navigating the Purchase Plus Improvement Program can be complex. A seasoned mortgage broker will guide you through the process, ensuring you meet all lender requirements and timelines.
- Plan Renovations Wisely Focus on upgrades that add the most value, such as kitchen remodels, bathroom updates, or energy-efficient improvements. Avoid overly personalized changes that might not appeal to future buyers.
- Budget for Unexpected Costs Renovations often come with surprises. Set aside a contingency fund to cover unforeseen expenses beyond the approved amount.
- Choose Reliable Contractors Select licensed and insured contractors with solid reputations. Lenders may require proof of credentials, and quality work ensures the investment pays off.
- Meet Deadlines Most lenders require renovations to be completed within a set timeframe, typically 90-120 days. Stay organized to avoid delays in fund disbursement.
Case Study:
Sarah and Ahmed are newcomers to Canada, and are looking to buy their first home and have been approved for a $500,000 mortgage. They found a house priced at $450,000 but realized it needed $50,000 in upgrades to modernize the kitchen and bathroom.
Challenge: Sarah and Ahmed would need to finance renovations, either through personal savings or a high-interest loan, adding financial stress.
Solution:
Sarah and Ahmed opted for purchase plus improvements:
- Purchase the Home: Include the renovation costs as part of their mortgage approval.
- Borrow for Improvements: Add $50,000 to their $450,000 mortgage, totaling $500,000.
- Streamlined Financing: Use one loan with the same competitive mortgage interest rate for both the purchase and renovations, avoiding the higher rates of personal loans or credit cards.
Renovation Impact: After spending $50,000 on upgrades, the home’s market value increased by $60,000.
Is the Purchase Plus Improvement Program Right for You?
This program isn’t for everyone. If you’re looking for a turnkey home or lack the upfront cash to start renovations, it might not be the best fit. However, if you’re willing to invest time and effort into creating a home that matches your vision, the Purchase Plus Improvement Mortgage Program is a powerful tool.
The Purchase Plus Improvement Mortgage Program is an excellent way to turn a house into your dream home while staying financially savvy. With the right guidance, it’s a seamless process that can deliver significant rewards.
Your Dream Home Is Just A Mortgage Away!
Phone: 780-233-8500 Email: komalvijmortgage@gmail.com
Book Online: https://calendly.com/komalckvij/mortgageconsultation
Purchase Plus Improvements Program Explained: https://www.youtube.com/watch?v=GzWQnGz_D9I
First-Time Homebuyer Guide for 2025: Steps to Secure Your Dream Home
January 06, 2025
Welcome to your first step toward homeownership!
Buying your first home is exciting but can also feel overwhelming. With this First-time Homebuyer Guide 2025, I’ll walk you through every step to make your journey smooth and stress-free.
Let’s get started!
Step 1: Understand Your Budget
Before house hunting, you need to know what you can afford. Create a budget by reviewing your income, expenses, and savings. Be realistic and include costs like:
- Down payment (minimum 5% for homes under $500,000 in Canada).
- Closing costs (typically 1.5% to 4% of the purchase price).
- Moving expenses and ongoing costs like utilities and maintenance.
Budgeting Tip: Use online calculators to estimate your monthly payments. If you’re unsure, let’s chat! I, Komal Vij, can guide you through budgeting for your first home in Edmonton.
https://yourmortgagemarket.com/en/Mortgage-Market/Landing-Page-en?leadDealId=TMAC&brokerCode=960892
Step 2: Get Pre-approved for a Mortgage
How to get pre-approved for a mortgage in Edmonton?
A mortgage pre-approval tells you how much you can borrow and shows sellers you’re serious. To get pre-approved:
- Gather documents like proof of income, credit report, and ID.
- Contact a mortgage broker (like me!) to compare mortgage options in Edmonton, including mortgage rates Edmonton January 2025.
Local Tip: Getting pre-approved ensures you’re ready to act quickly in Edmonton’s competitive market.
Buying your first home in Edmonton doesn’t have to be complicated, we are here to guide you through the process.
https://www.canada.ca/en/financial-consumer-agency/services/buying-home.html
Step 3: Research home buying programs and incentives
The Government of Canada offers home buying programs and incentives for homebuyers. These can help you purchase your home. The programs and incentives include the following:
The Home buyers’ amount
You may be eligible to receive a non-refundable tax credit of up to $1,500.
GST/HST new housing rebates
You may be eligible for a rebate for some of the tax you pay when buying your home.
The Home Buyers’ Plan (HBP)
You may withdraw up to $35,000 from your registered retirement savings plan (RRSP) tax-free to buy your first home.
Budget 2024 increased the HBP withdrawal limit from $35,000 to $60,000. This limit applies to withdrawals made after April 16, 2024.
Learn more about these home buying programs and find out if you’re eligible.
The First Home Savings Account (FHSA)
You may be eligible to save up to $40,000 tax-free to buy a home with an annual contribution limit of $8,000.
Step 4: Make a Wish List
What do you need in your first home? Consider:
- Location (schools, work commute, neighborhood, amenities).
- Size (number of bedrooms, bathrooms, and yard size).
- Future needs (room to grow or space for hobbies).
Keep your budget in mind and prioritize your needs versus wants.
Step 5: Hire the Right Professionals
Buying a home involves several experts. Here’s who you’ll need:
- Mortgage Broker: To secure the best financing options.
- Realtor: To help you find the perfect home and negotiate offers.
- Home Inspector: To ensure the property is in good condition.
- Lawyer: To handle the legal process to buy a home in Alberta.
Step 6: Start House Hunting
Now comes the fun part! Work with your realtor to find homes in Edmonton within your budget.
Step 7: Make an Offer
Once you find the perfect home, your realtor will help you draft an offer. The offer includes:
- Purchase price.
- Conditions (e.g., financing approval or home inspection).
- Closing date.
Step 8: Conduct a Home Inspection
Home inspection tips in Edmonton:
- Hire a reputable inspector.
- Attend the inspection to ask questions.
- Focus on major systems (roof, plumbing, foundation).
If the inspection reveals issues, you can renegotiate or walk away.
Step 9: Finalize Your Mortgage
After the offer is accepted, your mortgage broker finalizes the loan. This step involves:
- Providing updated financial documents.
- Confirming your down payment and insurance requirements.
Step 10: Close the Deal
The final step is closing day. Your lawyer will ensure all legal documents are signed, and funds are transferred. Once complete, you’ll get the keys to your new home!
FAQs: Edmonton Home Buying Made Easy
What are the steps to buy a house in Edmonton as a first-time buyer?
- Set a budget.
- Get pre-approved for a mortgage.
- Research grants and incentives.
- Find a realtor.
- House hunt and make an offer.
- Close the deal with a lawyer.
How do I start the home-buying process in Edmonton?
Start by contacting a mortgage broker (like me) to explore your financing options and get pre-approved.
What do I need to know before buying my first home in Edmonton?
Understand your budget, research incentives, and hire experienced professionals to guide you.
How long does it take to buy a home in Edmonton?
The process typically takes 2-4 months, depending on the market and your preparation.
What are common mistakes first-time homebuyers make in Edmonton?
- Not getting pre-approved.
- Overlooking hidden costs.
- Skipping the home inspection.
Buying your first home in Edmonton should not be complicated, as we are here to guide you through the whole home buying process.
Ready to start your journey? Let’s make your dream of homeownership a reality.
Phone: 780-233-8500 Email: komalvijmortgage@gmail.com
Book Online: https://calendly.com/komalckvij/mortgageconsultation
Why use a Mortgage Broker:
https://www.youtube.com/watch?v=gRemw_R21AI
Download Your Free Home Buyer's Guide:
Why Every Homeowner Needs an Annual Mortgage Check-Up?
December 30, 2024
Unlock Savings and Financial Peace with a Free Mortgage Check-Up!
Owning a home is a significant financial commitment, and your mortgage plays a central role in your financial well-being. That’s why a annual mortgage check-up is essential for homeowners who want to ensure their mortgage aligns with their goals and that they’re not paying more than they need to. Whether you’re looking to reduce your payments, explore refinancing options, or prepare for a renewal, a mortgage check-up offers valuable insights.
If you’re a homeowner and searching for “mortgage check-up near me," this guide is for you. I’m Komal Vij, an experienced mortgage broker with five years of helping homeowners make informed decisions about their mortgages. Let’s explore why every homeowner should consider a free mortgage review for homeowners, what’s involved, and how it can benefit you.
What Is a Mortgage Check-Up?
A mortgage check-up is a comprehensive review of your current mortgage. It’s a way to assess whether your mortgage still meets your needs or if adjustments could help you save money or better align with your financial goals. By conducting a mortgage check-up, you gain clarity about your options, including opportunities to:
- Lower your payments
- Secure a better interest rate
- Refinance to access equity
- Adjust your payment schedule
Unlike a mortgage renewal, which occurs when your mortgage term ends, a mortgage check-up can be done anytime during your term.
Life events, like career changes or family growth, may impact your financial situation. Annual checkups ensure your mortgage aligns with your evolving priorities.
What Is the Difference Between a Mortgage Renewal and a Mortgage Check-Up?
- Mortgage Renewal: Happens when your current mortgage term expires. You either renew with your existing lender or switch to a new one. This process focuses on securing a new rate and term but doesn’t typically involve a detailed review of your overall financial goals.
- Mortgage Check-Up: Can be done at any time during your mortgage term. It’s a proactive review to ensure your mortgage is aligned with your financial goals. It’s not tied to your renewal date and often uncovers opportunities for better rates, refinancing, or adjustments.
Why Is a Mortgage Check-Up Important?
Your financial situation and goals can change over time. A free mortgage check-up in Edmonton ensures that your mortgage adapts to these changes. Here’s why it’s essential:
1. Find the Best Mortgage Rates
Interest rates change frequently. A check-up can identify if you qualify for a lower rate, which could save you thousands over the life of your mortgage.
2. Lower Mortgage Payments
If your monthly payments feel overwhelming, a mortgage check-up can explore options to reduce them, such as extending your amortization period or finding a lower rate.
3. Prepare for Renewal
A mortgage renewal check-up for homeowners allows you to compare options and avoid automatically accepting terms that may not be ideal.
4. Refinance to Access Equity
If you’ve built equity in your home, a mortgage check-up can help you explore refinancing options to fund renovations, consolidate debt, or invest.
5. Align with Financial Goals
Whether you want to pay off your mortgage faster or free up cash flow for other priorities, a check-up ensures your mortgage supports your goals.
Regularly reviewing your mortgage allows you to identify opportunities for refinancing at a lower interest rate or more favorable terms.
When Is the Best Time to Do a Mortgage Check-Up?
You might wonder, “When is the best time to do a mortgage check-up?” While you can do a check-up at any time, here are some key moments to consider:
- 6–12 months before your mortgage renewal: This gives you time to explore better rates or switch lenders.
- After a major life event: Changes like a new job, having children, or unexpected expenses can affect your financial priorities.
- When interest rates drop: Take advantage of lower rates before your current term ends.
- When your financial goals change: If you’re planning for retirement, buying another property, or investing, a check-up ensures your mortgage supports these plans.
How Do I Know If I Need a Mortgage Check-Up?
Here are some signs it’s time for a mortgage check-up Edmonton advice:
- Your financial situation has changed (e.g., higher income or new expenses).
- You’re struggling with monthly payments.
- You’re nearing the end of your mortgage term.
- You’re considering refinancing or consolidating debt.
- You haven’t reviewed your mortgage in over a year.
An annual checkup keeps you informed about mortgage regulations and local real estate market conditions.
How Often Should You Do a Mortgage Check-Up?
I recommend a homeowner mortgage check-up near me every 1–3 years or whenever there’s a significant change in your financial situation. Regular reviews ensure you’re not missing opportunities to save money or improve your financial position.
What Happens in a Mortgage Check-Up?
During a mortgage check-up, I’ll:
- Review Your Current Mortgage: We’ll assess your interest rate, payment schedule, and term.
- Analyze Your Financial Goals: I’ll ask about your goals and any changes in your financial situation.
- Provide Expert Advice: I’ll share tailored recommendations, such as refinancing or switching to a better product.
- Explore New Options: Together, we’ll explore options to save money, adjust payments, or access equity.
- Answer Your Questions: You’ll have the opportunity to ask about rates, penalties, and strategies to optimize your mortgage.
What Documents Do I Need for a Mortgage Check-Up?
To make the process smoother, gather these documents:
- Mortgage statement: Shows your balance, rate, and payment schedule.
- Proof of income: Recent pay stubs or tax returns.
- Property tax statement: Helps verify your home’s value.
- List of debts: Include credit cards, car loans, or other obligations.
What Questions Should I Ask During a Mortgage Check-Up?
To get the most out of your check-up, ask questions like:
- Can I lower my payments without extending my term?
- What are the benefits of switching lenders or refinancing?
- How can I pay off my mortgage faster?
- Are there penalties for making changes to my mortgage?
- What new mortgage products are available?
Your mortgage is one of the most significant financial commitments you’ll make, so it’s worth reviewing regularly. A free mortgage check-up in Edmonton can help you lower payments, find better rates, or ensure your mortgage aligns with your financial goals.
As an experienced mortgage broker, I’m here to provide expert mortgage check-up advice tailored to your needs. Let’s work together to explore your options and ensure your mortgage works for you.
Contact today for a free mortgage review for homeowners. Let’s make sure your mortgage is the perfect fit for your financial future.
Ready to get started?
Phone: 780-233-8500 Email: komalvijmortgage@gmail.com
Book Online: https://calendly.com/komalckvij/mortgageconsultation
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