If you're thinking about buying a new home, you may find yourself perusing real estate  listings or keeping an eye out for “For Sale” signs on your daily commutes. It can be  tempting to focus on listing out the features you want, and the most desirable  neighbourhoods.


 

But one thing you should really prioritize is getting a pre-approved mortgage. It is one  of the smartest first-steps you can take to prepare yourself for house hunting, and  here’s why! 


 

Determine Your Budget with Confidence 

With rising interest rates and historically high prices in many neighbourhoods, it is  important to plan financially. Pre-approval provides you with a clear understanding of  how much you can afford to spend on a home. Mortgage lenders will assess your  financial situation, credit history, and income to determine the loan amount they are  willing to approve. Knowing your budget in advance helps you narrow down your  search and focus on homes that are realistically within your price range. This prevents  you from wasting time looking at properties that are out of your reach. 


 

Competitive Edge 

When you get pre-approved for a mortgage, you signal to sellers that you are a serious  buyer. Selling a home comes with its own complications and stress, and sellers can  sometimes feel under pressure to sell quickly. A pre-approval shows to sellers that you  have been determined to be reliable and less likely to be a risk if they move forward with  your offer.  


 

Lock in Rates 

Anyone thinking of buying has surely been paying attention to headlines of rising and  falling mortgage rates. It can be difficult to tell what will happen to mortgage rates in the  future. Depending on the lender, you could secure a rate for 90-120 days, meaning you  could purchase your home with a potentially lower rate if rates somehow rise again.  This could save you a considerable amount of money over the term of your mortgage.  


 

Smooth Closing 

Pre-approval can significantly speed up the home-buying process. You've already  provided much of the necessary documentation to your lender during the pre-approval  process, so when you find your dream home, the mortgage application process  becomes much smoother and quicker. This can make the difference between securing  your dream home or losing it to another buyer. 


 

Stress Relief 

We all have stress in our lives and buying a home is certainly not a stress-free process.  Stress can affect our ability to make the best decisions. Getting a pre-approved  mortgage removes uncertainty and can help reduce your stress throughout the whole  process, making your decision making simpler. 


 

Remember, home buying doesn’t have to be done alone. Speaking to a professional  real-estate agent during all parts of the process will reduce stress and ensure you know  all the facts before making a decision.  


 

If you have questions about how pre-approval can benefit your house search,  please reach out by calling me at 905-683-7800.  


 

If you’re thinking about buying, I can go over the homebuying process and  explain how The Brian Kondo Homebuying System can help you find your dream  home in this ever changing and challenging market. 


 

If you are thinking about selling in the next little while, I would be more than  happy to provide you with a free, comprehensive and up-to-date home evaluation, give you tips on what to do and just as importantly, what not to do to sell your  home for the most amount of money. 


 

Finally, if you already own a home and are looking to both sell and buy, in  addition to the above, I can also go over the various closing costs you will incur  so you will know exactly what you’ll have left in your pocket after all expenses. 


 

Please dial 905-683-7800. Please ask for me, Brian Kondo.





 

Thanks For Reading Today’s BLOG!

Brian Kondo
Sales Representative / Team Leader
The Brian Kondo Real Estate Team
Re/Max Hallmark First Group Realty Ltd.
905-683-7800 office
905-426-7484 direct
brian@briankondo.com
www.BrianKondo.com
www.BrianKondoTeam.com

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Remember, your referrals change lives! We donate a portion of our income on every home sale to a great worthy cause like SickKids Hospital. To find out more visit: www.ReferForSickKids.com.

If you or anyone you know is considering making a move in the next little while, give me a call or pass on my number ... 905-683-7800 (Office) or 905-426-7484 (Direct).




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