Mortgage Minute: How Much Can You Afford

Date Posted: July 28, 2020

The effects of Covid-19 are still being felt all across Canada and one area in particular that this is quite evident is the housing market.  The combination of record low interest rates and a limited supply of homes has created many instances where home buyers engage in bidding wars for a property.

To best position yourself to purchase a home or, in a bidding war scenario, it is important that you speak with a mortgage professional.  A mortgage professional will work with you to review your credit history and employment history; both of which play critial parts in the mortgage approval process.  By having a Pre-Approval in place you are in a much better position of knowing what you can afford for a mortgage and that your information has been viewed by a Lender.

Whether you are contemplating purchasing a home, looking to refinance your existing mortgage to consolidate debt, or simply switch your mortgage between lenders, now is the time to consider your options and talk to your mortgage broker today!

To view Mortgage Minute with Frank Napolitano, click here:

Contact your Mortgage Broker today for trusted advice