Buyers Guide
Your Mortgage
When should I talk to someone about my mortgage options?
There is nothing more frustrating that falling in love with a home, only to find out you can’t afford it. What’s the best way to avoid disappointment? Figure out your finances before you start looking.
Pre-qualifying for a mortgage is the best way to find out how much you can afford. Your financial institution will look at your income, expenses and debt to determine how much they will lend you. Combine that amount with the money you have for a down payment, and that’s your budget.
Once you have pre-qualified, consider applying for a pre-approved loan. Then, when you find the home you want to buy, it will speed up the purchasing process.
Want more information about planning your mortgage?
See Organizing Finances.
Who should I talk to about my mortgage?
Your bank is only one option. Mortgages are available through a number of financial institutions; you should shop around for competitive rates and options.