A Checklist On How To Maximize Your Purchase Price
At Spencer Murray Mortgages, I understand that many individuals consider obtaining a mortgage by itself as a stressful or laborious task given the stringent approval criteria. Unfortunately, that makes the mere thought of requesting for a higher purchase price even more daunting. However, with a little preparation, you can swiftly apply for a mortgage and also obtain a higher purchase price with ease.
As an experienced mortgage broker, I have sufficient knowledge of the mortgage process and can help my clients acquire financial solutions that match their needs. To help you in a similar manner, I have created a handy checklist on how to maximize your purchase price. Follow my checklist to obtain the ideal mortgage funds so that you can own the home of your dreams.
1. Earn as much income as you can before you apply for a mortgage. If you are in line for a promotion or an increment, try to wait until you get it.
2. Save for a large down payment by reducing your expenses. This can help you negotiate a lower interest rate and better lending terms.
3. Pay down your credit card balances to increase your eligibility for a large mortgage.
4. Pay down your line of credit balances
5. Pay off your student debt
6. Don’t lock into a large monthly car payment as most lenders see borrowers with large monthly expenses as risks.
If you have any concerns about applying for a mortgage or need help with maximizing your purchase price, reach out to Spencer Murray Mortgages. As a leading mortgage Broker in London, ON, I work to help simplify the process of homeownership and strive to make it an exciting endeavor. I am passionate about offering reliable and FREE services to help you acquire your dreams, and I am determined to give you my full availability and responsiveness throughout your mortgage journey.