Congratulations, you just found the house of your dreams and a safe haven for you and your family. What now? When considering a mortgage, you shouldn’t only look at the interest rate. There are a lot of things to consider, like the duration of the mortgage. Did you consider paying it off in 25 years or maybe 30 years? Look at what is reasonably and financially doable. If you commit to a high monthly payment, it might cause problems in the future.
Each situation and purchase is different, which means that we depend on you to inform us about your wants and needs. So the client’s wishes and preferences have to be clear. A mortgage broker will take a look at your financial situation and will take future changes into account. You don’t want to get stuck with debt because you didn’t consider the future.
When purchasing a home there are a few important things to take in account.
First of all it’s important that you have a stable income.
Make sure you give me all relevant (financial) information.
You have to work towards a good credit score.
Make sure you have money set aside for unexpected situations.
What do I need from you before we begin?
I need to know how much you can manage to pay. Knowing the amount you want to use for a down payment will make it easy to calculate how high your mortgage can be. There is a set ratio to calculate your minimum down payment. It depends on the price of your new home. Some clients are able to put down a higher amount for the down payment because they have savings. Clients don’t need to worry if they don’t have savings because this isn’t a requirement.
It is possible to get pre- approval for a mortgage. This might give you an insight about your financial situating in relation to the purchase of your home. As a result a mortgage lender can offer you a mortgage rate.
Deciding on a mortgage rate is quite difficult. It is a big market and it can be very confusing with all those numbers. Sometimes financial institutions promote low rates but have unprofitable conditions. Clients might have preferences concerning the length of the mortgage. As a mortgage broker, I can recommend you what is most profitable.
We are able to calculate your monthly mortgage payment, depending on the sum of the mortgage. Clients often make the mistake estimating a monthly payment that is too high. I will make sure there is a comfortable margin so you won’t be limited in your other monthly payments.
Buying a house is never the same. First time home buyers may nog be familiar with the process. But on the other hand it is always a labyrinth. It’s always beneficial to hire an unbiased professional even if it is your second mortgage or a self-employed mortgage
But there are also other reasons why hiring me as your mortgage broker can be valuable. I will for example give you tax advice you will financially benefit from. Because of my experience in this industry I can lead you through the process and be the person you can come to when you have questions. I will do the research and present you the results. I will discuss these subjects in detail with you because you will always have the final say! That way you are still in control.