THE MOST IMPORTANT THING TO DO BEFORE YOU START YOUR SEARCH FOR A NEW HOME IS TO MAKE SURE YOU HAVE YOUR FINANCING IN PLACE AND THE BEST WAY TO DO THIS IS WITH A MORTGAGE PRE-APPROVAL. YOU DON’T WANT TO FALL IN LOVE WITH A HOME AND FIND OUT AFTER YOU CAN’T BUY IT… THIS CAN BE DEVASTATING TO YOU…
A PRE-APPROVAL CAN BE ARRANGED WITH YOUR CREDIT UNION, MORTGAGE BROKER OR BANK AND DOES REQUIRE A FULL CREDIT APPLICATION…. ANYTHING LESS IS ONLY A GUESS… YOU WILL RECEIVE A WRITTEN PRE-APPROVAL FROM THE LENDER STATING THE MAXIMUM PRICE OF THE HOME YOU CAN PURCHASE, A GUARANTEED INTEREST RATE AND AN EXPIRY DATE FOR THE GUARANTEED RATE (USUALLY 90 – 120 DAYS). THIS PROTECTS YOU FROM ANY RATE HIKES DURING THE TERM. YOUR LENDER WILL STILL HAVE TO APPROVE THE PROPERTY PURCHASE WHEN YOU FIND THE PERFECT HOME.
DANGER…DANGER…. DURING THE PRE-APPROVAL PERIOD UP UNTIL YOU HAVE A FIRM OFFER, DO NOT MAKE ANY MAJOR PURCHASES LIKE A NEW CAR, NEW HOME FURNITURE, ETC. THE EXTRA OBLIGATION COULD PREVENT YOU FROM GETTING YOUR NEW HOME.
BE SURE TO CALL CHERITH RICHARDSON (604) 837-7541 WITH ANY QUESTIONS REGARDING YOUR PRE-APPROVAL… SHE CAN HELP!
NO DOWN PAYMENT? BE SURE TO ASK CHERITH ABOUT HER $0 DOWN MORTGAGE PACKAGES… YOU MAY BE IN YOUR NEW HOME SOONER THAN YOU THINK!
CHERITH RICHARDSON
MOBILE MORTGAGE SPECIALIST
WESTMINSTER SAVINGS
108 960 QUAYSIDE DRIVE
NEW WESTMINSTER BC V3M 6G2
C 604 837 7541 F 778 355 7541 W WSCU.COM
