Part 1 - Decision
Part 2 - Getting Ready    email me:
Part 3 - Offer to Purchase

Establishing a Market Value

Market value is based on what others have been prepared to pay for a similar property, under the same market conditions after reasonable marketing exposure. Market value is a fair price for both buyer and seller. It is what is called an "arms length" deal, and that means that there were no influences other than the market influencing the deal. You may of course pay more than established market value if your desire for the property warrants it. Conversely, you should not expect to pay less than established market value unless the property is being sold under duress.

Determine What You Can Afford!

If you're thinking of buying a home, or transferring or refinancing your existing mortgage, you're going to like this handy mortgage calculator. Use it to help you determine:

1. How much you can afford to spend on a home purchase

2. What your mortgage amount and payments will be and compare different ways of paying your mortgage off faster

3. Whether you can transfer or refinance your mortgage

4. What you can afford for home improvements or cash take-out on your home

The Mortgage Process

Get a pre-approved mortgage certificate. A pre-approved mortgage certificate is a written commitment that you will get a mortgage for a set amount of money, at a specific rate of interest that is guaranteed for 60 to 120 days depending on the financial organization you choose. The commitment is made subject to a financial assessment and property appraisal. The service is free and without obligation.

Why is it a good idea to get a pre-approved mortgage? A pre-approved mortgage gives you an edge. Before you even go house hunting, you will know the size of your mortgage, the interest rate, and the size of your monthly mortgage payments. With your financing already mapped out, you can concentrate on finding the right home in your price range.

A pre-approved mortgage also puts you in a strong bargaining position when you make an Offer to Purchase. If the seller wants to make a quick sale, you may be able to negotiate a price lower than the list price, because the seller knows that you are a serious buyer. On the other hand, if several people are bidding on the home you want, you may decide to offer to purchase at the list price, to beat out earlier offers.
To apply on-line or for more information please click here.