For most people, living in a rental property is a temporary solution until they can afford to buy their own homes. However, the homeownership journey is usually a long and expensive one, causing many people to give up on those dreams.
The amount of funds needed is usually the main challenge – you must find a lender willing to give you the mortgage to invest. That may be easy with the help of a mortgage broker, but you must think about the possible consequences that loan acquisition will have on your finances in the future. If you hire the best broker, you can plan accordingly to prevent harsh financial repercussions.
Certified Mortgage Brokers can make your home purchase process painless regardless of whether you are a first-time buyer or not. We make it simpler for you by exploring all the appropriate options for your situation and helping you choose the best one. We also explain the entire process to ensure you make informed decisions. Our brokers will consider all the essential factors in buying a home. For instance, we will calculate the home-to-value ratio and related costs before recommending possible mortgage alternatives. The computation is crucial because the basic principle is that you should never accept a mortgage that you will pay back with more than 40% of your income. Another guideline states that your monthly utility charges should never exceed 32% of the salary. That percentage should include any maintenance fee and taxes as well.
We take pride in giving our clients the ultimate experience, such as numerous mortgage alternatives and First Time Home Buyer’s Tax Credit. The brokers will also take time to understand and interpret the mortgage conditions to ensure you understand the impact on your budgetary plans.