If you’re searching for a new home in Barrie, Ontario, ensure you get pre-approved. A mortgage pre-approval allows a licensed mortgage professional to thoroughly verify your financials before you start house hunting, ensuring the budget you have is what you can actually spend.
Mortgage Pre-Approval in Barrie, ON
The mortgage professional you work with for pre-approval will confirm what you can afford based on lender and insurer criteria, and provide details on your mortgage payments.
Dominion Lending Centres mortgage professionals can lock in an interest rate for 60-120 days while you shop for your perfect home. This guarantees you a mortgage at that rate or better. If interest rates drop, your locked-in rate will drop too. If rates rise, your locked-in rate remains the same, ensuring you get the best rate during the pre-approval process.
To get pre-approved, a mortgage professional needs a short list of information to determine your buying power. They will explain the benefits of different mortgage terms, the latest programs, and recommend the best mortgage products for your needs. They will also review all costs involved in purchasing a home.
Getting pre-approved for a mortgage is essential for every potential homebuyer. It provides confidence that financing is available and puts you in a strong negotiation position against other buyers who aren’t pre-approved.