The ABC of Mortgage in Canada
Updated: Mar 11
Are you thinking of buying a home, requesting a loan for a second property or using your property to leverage yourself and obtain funds to invest or consolidate your debts?
You will find the answer to many of these questions in these series of the "ABC of Mortgage in Canada, by Mortgages Talks". Welcome
In the following episodes we will present a package of basic information to obtain a loan, regardless of whether it is to buy your first or second home, a vacation or an investment property, as long as the guarantee of the loan is real estate. This basic package of information will be essential and extremely useful for you.
We are sure that what you are going to hear will clarify your doubts and give you peace of mind, because you will see that practically all cases have a way or a solution, but the priority is to have the information that will be adjusted to each case in particular and a strategy on which we will be working.
You will understand why the first step is to make sure you have a good financial, fiscal and credit base;
We'll talk about the strategies you can implement to build your down payment fund, and why you have to raise additional funds to pay for closing costs, as well as what those costs are.
We will explain the ways in which you must prove your income, how to calculate your real credit option, and how financial institutions measure your ability to pay according to your income and expenses.
Remember that the most important thing is to show that you will be a reliable borrower, that you have a good credit history and that is in accordance with the criteria of each entity, and that you can also pay it realistically.
You are about to embark on a journey where you will access and use the resources available in the financial market in your favor, that is, to increase your wealth with the money that financial institutions have labeled for the real estate market.
The different types of credit and mortgage options that exist, as well as the catalog of lenders or financial institutions and their criteria, will be combined and define the path that you must follow on your way to financial security and creation of your wealth.
When buying a home, confidence comes from knowledge, so set aside some time to prepare your mortgage package. This "ABC of Mortgage in Canada" Series will help you greatly with that.
Informing yourself on time and building your strategy will help you to stop allocating money in a rent that does not conform your equity, or much better, that information will help you to have a pre-authorized loan to take advantage of an opportunity to buy a home or investment when it shows up.
Sounds good to you?
Well, come on, in the FIRST episode we will explain how much is needed for an initial payment or down payment and the first questions that must be on the table for you to start your financial analysis.
These are the episodes of "ABC of Mortgage in Canada, by Mortgages Talks".
We hope this information has been useful to you, and if you think it could be useful to someone else, share the link. You can count on our mortgage advisors during this process.
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Thank you for listening to us. Bye!
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