Residential Properties

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When it comes to selecting the right property for the right price, time is of the essence. Find your dream home by searching our available listings.

Found Your Dream Home?

Here are some tips to help you get approved for a mortgage.

Get Approved Fast

Pre-approval for a home loan can be a daunting task. First of all, you need to find a mortgage lender who you can trust. If needed, we would be happy to provide you with a referral. The lender will look at your financial status to determine how much you can borrow, how much you can afford, and what loans you might qualify for. Getting a mortgage requires a written application and supporting documentation, which can be an intimidating process. Here is what you should know before meeting with your mortgage lender: 

 

#1

They will check your credit score

Understanding your credit score can give lenders a better sense of your credit habits and history and help them decide if you’re a good candidate for a loan. The higher the credit score, the better. Credit scores are ranked from 300 to 900.

#2

They will check your employment history

In addition to your employer history, lenders also ask about how long you have been with your current employer and how much you make annually. It is important that you consistently make money with no significant gaps in income so that you can afford your mortgage payments. 

#3

They will check your assets and debts

It is a good idea to have recent bank statements, tax records, and debt balances, including credit card debt, car loans, and student loans. To determine whether you can consistently repay a loan, lenders look at your debt-to-income ratio.

#4

Submit your offer to purchase

Now that you have found the house you want, things will move fast! 

The first step is to submit a purchase offer. Upon acceptance of your offer, you’ll pay a deposit to the buyer, arrange for the mortgage financing and schedule the home inspection

Once the financing is in place, you will pay your down payment and transfer the title of the home to your name with the help of a real estate lawyer. It generally takes 30-60 days for the whole process to be completed, depending on the terms of the purchase offer.

As soon as everything is in place, you’ll receive the keys from your real estate agent, and you’ll become the proud owner of your new home!