The Brantford Home Info Blog!: Get Approved Quicker

Thursday, August 9, 2012

Get Approved Quicker

One of the toughest things about purchasing a home is being approved for a mortgage. Even with all the paperwork that needs to be filled out, one of the most difficult parts of the process is waiting to know if you got approved or denied. Throughout my years as a Brantford/Brant real estate agent, I have faced this step with my clients quite frequently.

However, now analysts are predicting that mortgage companies will begin approving, or denying your application much more quickly. Due to new and tighter mortgage rules companies will not have such a heavy influx of applications all at once, making it possible for them to work more efficiently. Although you may get an answer on your application sooner than expected, it also may not be the answer you want. Banks can more easily weed out the applications they approve from those they deny because of lower amortization periods.

The loan-to-value ratio is also a contributing factor in how fast you hear an answer on your application. This has to do with how much you need to borrow over the amount of your home. The lower amount you borrow from your home, the more likely you are to get approved. If you are borrowing less, it shows the bank that you will be able to stay current on the future payments.

With companies making speedy decisions it is allowing perspective Brantford/Brant homeowners more time to apply at other companies in order to make their purchases. As less people apply for a mortgage, the people that due will be processed quicker. There are still skeptics saying that times will not be shortened due to the new rules.

If you have any questions about the new rules regarding applying for a mortgage, feel free to ask. Also remember, if you or anyone you know is interested in buying or selling Brantford/Brant real estate, contact me. I look forward to speaking with you!

Wally Dufrat | Sales Representative
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 Website at:
www.FreeBrantfordHomeInfo.com for FREE Information!

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The fact is, there isn't much more to the average real estate agent than the agent themselves. Most agents operate a one-person show, working as hard as they can to satisfy their clients and get them the best real estate deal possible. As a result, quality and profitability on your home sale could suffer.

As a member of the RE/MAX Twin City Realty, Inc. Brokerage, I work with a team of agents to help the Brantford and Brant County areas have successful, quality, profitable real estate transactions. I pride myself on being a premier real estate and community resource for the Brantford and Brant County areas, and I utilize the RE/MAX team to provide the best service to my clients.

I focus on giving my clients the most accurate Brantford and Brant County market information to insure that not only do they move through a seamless transaction, but that they also understand the buyer or seller process along the way.

Please contact me if you have any questions about buying, selling, or the Brantford and Brant County, Canada areas.

Wally Dufrat: 519-752-5400 WallyDufrat@remax.net Join me on Facebook!

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Located in the heart of Southern Ontario, Brantford is located right on the gorgeous Grand River and has easy access to major highways, rail lines, and three major Canadian ports of entry.

Known as the "Tournament Capital of Ontario" and the "Telephone City", Brantford has a rich history and ideal location to work, play, and live.

The several neighborhoods and communities in Brant County reflect its rich history surrounding the Grant River. The historical architecture lining the streets of the older city districts echo the area's vibrant past. The smaller communities of Paris, St. George, and Burfood also showcase the strong manufacturing industry of the area, as the town are thriving with boutiques, specialty shops and antique havens.