We have been experiencing a pretty low interest rate for a few years now and as far as we can tell (thank you to the finance guys in the head office); we can continue to count on affordable financing. Having said that, I would like to stress how important it is to get a pre-approval for a mortgage whether it is your first, third or fifth.
What can I say about pre-approvals?! This is an understated step when it comes to getting started on the train of purchasing. Why you ask? I am going to tell you right now!
First let me say that I can totally appreciate why this is a tough first step. It may actually feel like a bit of an invasion or even an interrogation HOWEVER, this is far from what pre-approvals are all about. You need to remember one thing and one thing only; this is for your sole benefit. With that said; please don’t look at this stage/step of the process as scary but rather one of reflection of your place in life. That in itself could be the scary part....but hey....we are all human. This pre-approval business is supposed to demonstrate what you are capable of handling in terms of borrowing. Wouldn’t you want to know where you stand in actuality rather than hypothetically? I would!
Having been in the business for 21 years, I would without a doubt say that this is the most important element to home ownership. Let’s not take this lightly!
