Home mortgages can be a complicated and intimidating subject. Media projects that it is only for the wealthy and that there should be fear over interest rate volatility. However, I am here to education you on how you can bypass some of that noise and stay focused on what truly matters. To purchase a home you will need a Pre-Approval letter from a Mortgage Advisor (MA), but what this MA can offer you is not always the same as what you feel comfortable or willing to pay for your future mortgage expense.
Here are 3 things that are different between a Loan Approval value and a Loan Affordability value:
If the MA you are working with does not ask, "What is the amount you would feel you can afford on a mortgage per month?" I would consider this a red flag and look for a different professional to work with.
If you would prefer I help you figure out that number, reach out and I am happy to assist. The more equipped you are in what you can afford the more likely you will feel confident and in control of your home buying process and not influenced by the noise around you.
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