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What you want. A quick procedure to close the deal (and save money).
There's a whole new level of excitement when you buy your next house. As you juggle mortgages and choices this time, there is much to consider. With the right mortgage, you can realize your financial goals and get a better rate than ever.
Could you tell me the specifics you need to remember when you get your next mortgage?
If you already have a mortgage on your primary residence, you have a few options for your next purchase, depending on your situation or the details that make you eligible:
- Do you intend to rent your current residence?
- Are you moving into your new home from your current place?
- Do you prefer to find a new home or sell your current one first?
- Do you want to use the equity in your existing home to buy a new one?
- What is your initial installment source this time around?
- There are even more possible scenarios, and we can help you quickly sort through them to find the best way to get a mortgage for your next home.
Is this the first house you've bought? Your particulars will differ, and rebates and assistance programs may be available.
Please read on for more information if you’d like to add a second or vacation home to your primary residence.
The five essential steps for purchasing a new home:
- Talk to us as soon as you start considering your next move. We can help answer important questions about your particular situation in the language you prefer, such as whether there are prepayment repayment penalties, options for a down payment, closing costs, and bridge financing. We’ll give you an overview of your options to help you make better decisions.
- Get pre-approved for the amount of your mortgage! You can find a home within your budget thanks to your quick pre-approval, and you can keep your best rate for up to 120 days. Apply now and shop at home!
- Could you bring the details of your conditional offer back to your TNM broker, and they’ll let you know how much it will cost to close and get your total mortgage approved at the best rate possible? I’ve included a handy list of the documents you must submit for lender approval here.
- Could you get the deal done? We stay with you until the very end after you receive full mortgage approval and manage the paperwork until the mortgage is advanced (in conjunction with your real estate agent and solicitor).
- Need a referral for a real estate agent? With our reliable, long-standing relationships in the industry, we can also help you with that.
What is the expected time frame for my mortgage approval?
We’re quick because we know a lot about mortgages. While each circumstance is unique, we are aware of any questions or steps. We’ll go ahead and complete the transaction within your preferred time frame.
But don’t just take our word for it; read the 5-star reviews left by our busy, content customers.
What distinguishes my down payment from a first-time mortgage deposit?
You can use equity from your current home or from the sale of that home, depending on your circumstances, to increase the amount of your down payment for your next home.
Or, the down payment on your next home may need to come from other sources, like savings or a gift.
You can put down as little as 5%, but this will depend on the price of the next home. As a high-ratio mortgage, we’ll let you know the mortgage default insurance costs for any amount with less than 20% down.
What additional savings can I anticipate with True North Mortgage?
We’re fixated on giving your best rate to your circumstance. You’ll, in any case, have to meet all requirements for your rate, yet our volume markdown and admittance to a few moneylenders assist our clients with saving more than $3,000.
Look at our Compare & Save calculator to see how much more you can save over your mortgage with our better rates.
What other mortgage options can I get assistance with from my True North Mortgage broker?
Unlike your bank, we can access thousands of mortgage products to find the right one for you.