If you've already been through the home financing process, you understand that a quality mortgage professional can be one of your best allies.
Whether you are buying a new home, cottage or rental we are here to help. No matter the location, Cobourg, Port Hope, Brighton, Courtice, Oshawa, Whitby or anywhere else in Ontario.
The most common phrase spoken in our office from a person who already owns a home is "I have to qualify again for a mortgage? I already have one, that doesn't make sense." The simple answer to this is yes and John can help you through this process regardless of if you are looking to switch lenders or stay with the lender you are currently with, he can make it happen.
Why do you have to requalify?
In Canada, whenever a new mortgage application is made the lenders look at your CURRENT situation. They check your credit, they verifiy your income, they verify that the property you are buying exists, is suitably priced and more. The reason for this is to ensure that the financial system as a whole is held up and that the borrower is able to take on the new mortgage EVEN if the mortgage amount is going down.
What Should I do first?
Avoid disappointment. Whether you are buying for the first time or the one hundredth time, you should always contact a licenced professional such as John to ensure you qualify for the home you are looking to buy. The LAST thing anyone wants is to find out you can't afford that dream home you just found.
John will meet with you in person to go through your options. He will ensure you understand where you stand with your current lender, how the process will unfold and how much you will qualify for on your new purchase.
How do I apply?
Regardless of your situation, John will ensure you undersand it and give you the best unbiased advice around.