Finding the right mortgage is not an easy process. It takes a lot of thought and planning. You need to be prepared to do a lot of research and weigh a lot of options before deciding on the best plan of action. Using the right mortgage lender in the Brantford/Brant County Real Estate market and your agent, you will be able to choose the best financing option for your transaction. Here is where you need to start when selecting a mortgage:
• Ask yourself some important questions. The key is to start with yourself. Don’t focus on interest rates, taxes, homeowner insurance or anything else at the moment. Those numbers are what they are in this market. Your ability to pay those fees depends on your current situation, which is why you need to ask yourself some important questions before you start shopping around for rates. These questions include factors like, “Do I have a financial plan? Do I plan on getting married or starting a family in the near future? How much can I afford to spend on a home in relation to my other expenses?” Notice how these are all questions that relate directly to your personal and professional life, not the particular transaction you’re entering. If you can’t answer these questions confidently and with a plan in place, then now may not be the best time to take on the responsibility that comes along with a mortgage loan.
• Familiarize yourself with what’s out there. Pre-approved mortgage. Open mortgage. Closed mortgage. Bridge financing. Is your head spinning yet? These are just a few of the many types of mortgages available on the market today. You need to discuss your personal needs with your Brantford/Brant County loan officer and review all of the options available to you. Do your research and familiarize yourself with the various kinds of mortgages on the market. The more you know, the better you will be able to find the plan that will work best for your individual situation.
• Use your Brantford/Brant County Real Estate Agent to help. Not only will your agent have the connections to loan officers in the area that can help you, but they’ll also be able to answer basic questions about mortgage loans. They’ll also be able to help you figure out some of the answers to the important questions above as they guide you throughout the entire buyer and seller process. This is one resource that you will definitely want to use!
If you start by focusing on your needs and what is practical for your financial situation, then, with the help of your Brantford/Brant County Real Estate Agent and loan officer, you will find the right mortgage loan. It’s all about planning ahead and being honest about what you can afford. If you have any questions about how to go about buying a home in the Brantford/Brant County Real Estate market, don’t hesitate to contact me. I’d be happy to help in any way that I can. I hope to hear from you soon!
Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage
RE/MAX Twin City Realty, Inc. Brokerage
Over 525 Closings!
515 Park Road North | Brantford, ON N3R 7K8 Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400
Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!
515 Park Road North | Brantford, ON N3R 7K8 Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400
Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!
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