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Get Ahead in the Mortgage Race: How to Secure Funding Before Your Home Hits the Market

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Securing a mortgage can be a daunting task, especially when you’re competing against other buyers in a hot housing market.

Securing a mortgage is more difficult than ever. The average time to close on a loan has increased to 46 days, and the process is only becoming more complicated.

Get ahead of the competition by securing your funding before your home hits the market. Our team of experts will work with you every step of the way to make sure you have everything you need to get approved and funded quickly.

It’s a myth that homeownership is too expensive for the average person. The housing market is booming and mortgage rates are at a historic lows-now is the time to take advantage of this opportunity.

Here Are Some Ways To Secure Funding Before Your Home Hits The Market:

  • Get pre-approved from a lender in order to qualify for the best interest rates.
  • Get a fixed-rate mortgage so your monthly payments will remain consistent even if interest rates rise.
  • Shop around for the best deal on your mortgage.
  • Make a larger down payment to lower your monthly payments and the amount of interest you’ll pay over the life of the loan.
  • Pay off high-interest debt such as credit cards before you apply for a mortgage.
  • Get rid of any unnecessary expenses to free up more money for a down payment and monthly payments.
  • Boost your income with a second job or side hustle.
  • Save for a down payment in a dedicated savings account.
  • Invest in your credit score by paying your bills on time and maintaining a good credit history.
  • Work with a reputable real estate agent who can help you find the right home within your budget.

Homeownership is within reach for more people than ever before.

By following these tips, you can get ahead in the mortgage race and secure funding for your new home.

1. Identify The Right Lender For Your Unique Situation

There are a lot of things to take into consideration when looking for the perfect lender.

Do you want an unsecured loan or mortgage?

What’s your credit score and how long have you been in this position with regards to buying property before now – if not, then there may be better options available!

You should also think about whether cash buyers will work best because owning oneself rather than renting can save money over time down payment requirements as well increase affordability while still living at home with parents until one gets established financially.

2. Get Pre-Approved For The Best Interest Rates

Interest rates are important, and they can save you money over time. By getting pre-approved, you’ll know what interest rate you qualify for so that you can compare different lenders’ offers.

This way, you can be sure to get the best deal possible on your mortgage.

3. Shop Around For The Best Deal On Your Mortgage

There are a lot of different lenders out there, and each one offers different rates and terms. It’s important to shop around and compare offers before you decide on a lender. This way, you can be sure that you’re getting the best deal possible on your mortgage.

4. Make A Larger Down Payment To Lower Your Monthly Payments And The Amount Of Interest You’ll Pay Over The Life Of The Loan

Larger down payment will lower your monthly payments and the amount of interest you’ll pay over the life of the loan. This can help you save money in the long run.

5. Pay Off High-Interest Debt Such As Credit Cards Before You Apply For A Mortgage

High-interest debt can drag down your credit score and make it harder to get approved for a mortgage. Paying off this debt before you apply for a mortgage can help you get a better interest rate and improve your chances of getting approved.

6. Get Rid Of Any Unnecessary Expenses To Free Up More Money For A Down Payment And Monthly Payments

Cutting back on unnecessary expenses can help you free up more money for a down payment and monthly mortgage payments.

This can help you save money in the long run.

7. Boost Your Income With A Second Job Or Side Hustle

Bringing in extra income can help you qualify for a larger mortgage and make it easier to afford your monthly payments.

If you’re thinking about taking out a mortgage, consider boosting your income with a second job or side hustle.

8. Save For A Down Payment In A Dedicated Savings Account

Saving for a down payment in a dedicated savings account can help you reach your goal of homeownership sooner.

This can also help you avoid using credit cards or other high-interest loans to finance your down payment.

9. Invest In Your Credit Score By Paying Your Bills On Time And Maintaining A Good Credit History

Paying your bills on time and maintaining a good credit history can help you boost your credit score.

This can make it easier to get approved for a mortgage and get a better interest rate.

10. Work With A Reputable Real Estate Agent Who Can Help You Find The Right Home Within Your Budget

A real estate agent can help you find the right home within your budget. They can also provide helpful advice and guidance throughout the home-buying process.

Homeownership is within reach for more people than ever before. The housing market is booming and mortgage rates are at a historic lows-now is the time to take advantage of this opportunity.

Explore ways to get ahead in the mortgage race, securing funding before your home hits the market. With these tips, you can be on your way to homeownership sooner than you think.

Thanks to current market conditions, homeownership is more attainable than ever before. If you’re thinking about taking out a mortgage, now is the time to act.

By following the tips in this blog post, you can get ahead in the mortgage race and secure funding before your home hits the market.

These tips will help you save money in the long run and make the process of buying a home easier. Thanks for reading!

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If you're considering buying your first property in Canada, be sure to contact us or book your Free 15 minutes call with us, This will help you prepare better for that big decision!

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Serujan Kaneshalingam

Serujan Kaneshalingam

Dedicated Mortgage Broker with One Mission: To help clients obtain the best financing solution for the acquisition or refinancing of your property.

Serujan Kaneshalingam

Serujan Kaneshalingam

Dedicated Mortgage Broker with One Mission: To help clients obtain the best financing solution for the acquisition or refinancing of your property.

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