Lisa Bourgon

I always recommend that my clients get a mortgage pre-approval before we start a serious search.  There are many advantages to getting a mortgage pre-approval from your bank or mortgage broker before you start the search for your new home.

• Knowing the size of mortgage you can be approved for will help determine your budget and help focus your search on houses you can actually afford to buy.
• The bank will guaranty their lowest interest rate for a period of three months so you are protected if the rates go up before your closing.  However, if the rates go down, you will still benefit from the lower rate.
• Knowing your budget and your interest rate will allow you to plan what your mortgage payment will be and proceed with your big move with peace of mind.
• Your agent will not have to ask personal and private questions that could make you uncomfortable in order to determine what your budget might be.
• Once you find your new home, you have already done most of the leg work to get your financing in place.

With the first step done, you can now focus on finding the best home for your family without having to worry about the financial aspect as much.