Applying for a mortgage or looking for a lender to refinance your mortgage can be nerve-racking and a daunting task, especially if you’re doing it all by yourself. Not to mention, you will have to assess your financial situation, avoid multiple hits on your credit and more importantly, go through the intricate mortgage laws, which can add stress and inconvenience. The best way to simplify these mortgage situations is to hire a reliable mortgage agent who will help you ease the process out for you.
Purchasing your first property can be a fantastic experience if you manage to land your perfect home. However, if you need to secure a mortgage to fund that dream, you may have tons of questions about the application process but may find it tricky to get all the answers that you’re seeking.
Due to the COVID-19 pandemic, many businesses have been affected, which has caused mass unemployment. The loss of jobs will directly impact the real estate industry, so the Canada Mortgage and Housing Corporation (CMHC) has introduced new lending standards to protect stakeholders.
For most people, their dream of homeownership can only be materialized by acquiring a mortgage. However, with so many options, finding the right source of finance can be a challenging process. The ever-changing dynamics of the mortgage market can further complicate the mortgage process. Moreover, making even the smallest of errors when looking for a mortgage could sabotage your chances of obtaining mortgage product you are looking for. Thorough research can help you steer clear of these pitfalls that could otherwise cost you thousands of dollars. To help you avoid such situations and get the best mortgage solution, Pash Financial / Mortgage Architects has compiled a list of the two most common mistakes people make when looking for a mortgage.