The Process :: Mortage Professional Toronto - GTA :: David Avrahami

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Buying a home should be a rewarding and enjoyable process, but only if you’re prepared and know how to avoid the most common home buyer mistakes.

Engage my services right from the beginning and follow this advice.

How much can you afford? That depends on a number of factors with the most important being gross household income, down payment size and mortgage interests rates. Lenders will also consider your assets and liabilities.

If your down payment is less than 20% of the purchase price of your home, mortgage loan insurance is usually required. With and insured mortgage loan, you could buy a home with zero down payment. Ask me about the No Down Payment Mortgage!

There are many mortgages, each with unique features.

Investigate alternatives ahead of time so you don’t have to make a rush decision later. The pre-approval meeting is usually a good time to gather information and start exploring options.

When arranging mortgage financing, you will be asked to provide the:

Recent pay stub. 2 years notices of assessment (if self employed)
Confirmation and details of employment (letter of employment)
Current banking information
List of assets, including property and vehicles
List of liabilities
Copy of Agreement of Purchase and Sale for resale homes
Copy of the property listing (if a resale)
Verification on your down payment

Pre-approvals are one of the easiest ways for homebuyers to start off on the right foot. A pre-approval takes very little time and helps buyers establish a maximum spending limit. With that information, they can stop with confidence, knowing what they can offer on a property.

The pre-approved amount rate will be guaranteed for 120 days. (some conditions apply)

We can help you find the best financing for your next home guaranteed!

We offer you a safe and convenient way to apply for a mortgage online. Simply click below to get started.