Don’t Go Shopping for a New Home Before You Know Exactly How Much You Can Spend!

You might have an initial idea of the payment and mortgage you can afford. But will the bank feel the same? It’s always best to pre-qualify for a mortgage so you know exactly how much a financial institution is willing to lend you. This will save you time and money.

In the pre-qualifying process, you will find out:

- Exactly how much you can afford.
- How much cash you will need for the down payment.
- The minimum down payment, the advantages of a higher down payment.
- What the bank feels you can afford for a monthly payment.

After you and your financial institution have determined how much you can comfortably afford to spend you can, with confidence begin your search for your new home/investment.