Underwriting insights! What Every Homebuyer Should Know Before Applying for a Mortgage 


Mortgage Application

 

This homeownership.ca post tells why an understanding of underwriting is a key advantage for home buyers seeking a mortgage.  Work with a mortgage professional to get pre-approved for a mortgage so you know your price range and can make an offer instantly.  The pre-approval process determines the size of mortgage and type of home you can afford.  You will need to assemble your credit report and other documentation (financial and employment history, creditworthiness, income) the lender or mortgage insurer needs to process the application.  The documentation required varies depending on individual circumstances.  For example, self-employed applicants should be prepared to prove a consistent level of income over at least two years.  To read more click here.

 

 

Contact Information

I want to hear from you. Let’s Chat!


The trade marks displayed on this site, including CREA®, MLS®, Multiple Listing Service®, and the associated logos and design marks are owned by the Canadian Real Estate Association. REALTOR® is a trade mark of REALTOR® Canada Inc., a corporation owned by Canadian Real Estate Association and the National Association of REALTORS®. Other trade marks may be owned by real estate boards and other third parties. Nothing contained on this site gives any user the right or license to use any trade mark displayed on this site without the express permission of the owner. 

 

powered by WEBKITS

This article was first published on https://www.teamrealty.ca.