Step by step instructions-How to qualify for a mortgage

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1-Take correct decision- purchase a home or keep leasing

This is very important and it depends on both personal and financial matters. In a financial sense, it is simple: if your cost of home ownership is less than rent, you should buy. Take your time to do the math for yourself or you can depend on online calculators available

2-Calculate down payment you can afford

Calculate how much money you have available for down payment, moving, renovations. If you need to qualify for a mortgage, calculate how much money available at the time of purchasing a home

3-Get a detailed view-contact a Mortgage Broker

Once you’ve figured out about your mortgage affordability contact a mortgage broker, and get the mortgage pre-approval process started. Mortgage broker will able to process of pre-qualifying you for a mortgage. your mortgage broker will provide you with a budget, a maximum amount, a timeline, different mortgage products,In general, your mortgage broker will need the following documents within about a week of you writing an offer on a home you’re looking to purchase:

4-Contact a Real Estate Agent

Now it’s time for shopping after pre-approval. shopping for a home. You can either use online medias or a real estate agent for this.

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