Banks Don’t Provide Proper Pre-qualifications, Mortgage Brokers Do

Mortgage tip of the week & food for thought for those who are considering house hunting…

First time home buyer should confirm their eligibility to purchase through a mortgage pre-approval in conjunction with their real estate agent. Mortgage Brokers ensure FTHB’s are pre-approved prior to searching for property so a budget is established and a pre-approval rate hold is tied down. If the client is already working with a realtor, that realtor can rest assured that the client is motivated, and looking in their appropriate price range. It saves all 3 parties involved a lot of time, and headache. A mortgage broker can be considered more valuable in this regard, as banks do not provide proper pre-qualifications based on a full application or review of documents, leaving less room for error.

If you have any questions NEVER hesitate to get in touch & stay tuned for more tips 🙂