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Best Financing

Best Financing

"shopping for the best financing should start
long before you start shopping for a home."

When you're looking to buy a home, the first thing most people do is to start the process of house-hunting. However, experience proves this is one of the last steps you should be taking if you want to get the most home for the least amount of money. In fact, shopping for the best financing should start long before you start shopping for a home.

This report outlines 3 significant steps you should take to obtain the best financing rates for when you buy a home. Read on to find out where you can inquire, what questions you should ask, and how to manage the process to your personal advantage.

3 Point Plan

3 Critical Questions to Ask... When you're looking for a REALTOR® to assist you in finding a home, make sure you find out the answers to these important questions:

  • Can you get me a quick, easy and FREE mortgage pre-approval?
  • Can I get preferred access to special low downpayments, monthly payments and interest rates?
  • Can I get advance notice of listings that computer-match my homebuying criteria?

1. Get Pre-approved for a Mortgage

Getting pre-approved for a mortgage will give you a number of key benefits, including; emotional security in the house-hunting process, and insurance against rising interest rates in the market place. Pre-approval is easy, and can give you complete peace-of-mind when shopping for your home. Mortgage brokers can obtain written pre-approvals for you at no cost and no obligation. More than just a verbal approval from your lending institution, a written pre-approval is as good as money in the bank. It includes a completed credit application, and a certificate which guarantees a mortgage to the specified level when you find the home you're looking for. Pre-approval means no last minute shopping around for money and rates. With a pre-approved mortgage, if rates go up, you still get the pre-approved rate, but if rates go down, you receive the lower rate.

2. Receive Preferred Access to Special Low Financing

REALTORS® who conduct many real estate transactions every year may be able to offer you certain negotiating advantages with lending institutions. These lenders are often anxious to do business with such REALTORS® and their clients, and may be willing to extend better than average rates.

This can make purchasing a home much easier and more affordable for many Buyers to qualify for a minimum downpayment, and low monthly payments. Therefore many more Buyers can own the home of their dreams much sooner then they ever thought possible.

3. House-hunting Service

Most REALTORS® offer a house-hunting service making it easier to find what you'd like. Through these programs you find out in advance which homes on the market match your homebuying criteria. To do this you simply provide your REALTOR® with a brief description of the type of property you're looking for. For example, number of bedrooms, price range, neighbourhood, and so on. They will send you opportunities, including pictures, of all the homes for sale matching your requirements. This will give you the competitive edge over other Buyers. You can then drive by these homes to see which ones you want to view. Then it's simply a matter of you advising your REALTOR® about which homes you like and want to see a little closer. Because you are there, before most other Buyers, perhaps you can even negotiate a better price.

Barrie Agent

Lil Wilkinson Realty, Brokerage  262 Rose Street #704, Barrie, ON L4M 5R2  Independently Owned and Operated  All Rights Reserved 1999-2019  Privacy PolicyPrivacy FAQ's