Thinking of buying a home in Chilliwack or its surrounding areas? This significant decision involves many important factors. If you're weighing the options between a new or existing home in Chilliwack, and have questions or feel uncertain, feel free to contact me. I'm here to help clarify and guide you through the Chilliwack real estate market. My expertise and knowledge can provide you with the essential information needed to make an informed choice in this vital investment of your life. Don't hesitate to reach out for any assistance or advice you might need.
PRE-QUALIFICATION
The first and most important step to a smooth real estate transaction is to Know your Purchasing Power.
- Have you spoken with a mortgage broker?
- Do you know how large a mortgage you can qualify for?
- Are you relying on selling a home to fund the next purchase?
A mistake people often make is waiting until they have found their dream home before starting a conversation with a lender, only to find out their loan was denied (how disappointing!!)
In a fast paced Seller’s Market, you may have 5 days or less to get full approval from your bank, so it is vital they have all the information they are going to need from you ahead of time.
It’s best to start this process early to determine what price range your next home will be in. Not working with a mortgage professional yet? Let me know, and I can happily connect you with some options within my network.
Bank or Mortgage Broker?
When hunting for mortgage rates, don't limit your search to banks. Mortgage brokers can often secure better rates by tapping into a diverse range of lenders, including major banks, private lenders, and other financial institutions.
Mortgage brokers act as middlemen between lenders and home buyers. They find the best rates, negotiate, handle paperwork, and receive commission from the lending institution after the deal is done, all without extra cost to you.
Bank loan officers focus on in-house products, limiting your ability to compare rates across different lenders. They aren't obliged to provide the best discount on their posted rate, so it's up to you to negotiate. They earn commissions on sales, putting the responsibility on you to secure the best deal.
If you have further questions regarding banks and mortgage brokers, feel free to contact me
Take the next step in your journey
I look forward to working with you and helping you reach your home ownership goals. Reach out to get in touch and start the process today. I offer:
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