Regina Mortgage Preapproval: First Foundation
If you're thinking of purchasing a new home in Regina, mortgage preapproval can make the house-hunting process easier for you, saving you time and a lot of wasted effort. By getting your mortgage preapproved before beginning your search, you'll go into the market knowing precisely how much money you have to work with. Mortgage preapproval can also provide some additional peace of mind because it locks in current interest rates for up to 120 days, giving you time to shop at your leisure, while protecting you from the risk of rising rates. And by working with a broker from First Foundation, you'll know that you're getting the most competitive rates available in Regina.
Avoid Surprises with Mortgage Preapproval
While many financial institutions will pre-qualify your mortgage for a certain amount, many lenders will look no further than considering how much you make versus how much you already owe. This means any extenuating circumstances, anything your bank didn't take into consideration, could end up costing you your new home.
There is a huge difference between Pre-Qualified and Pre-Approved, Contact Us Anytime to discuss what this means to you!
Unlike pre-qualifying for a loan in Regina, mortgage preapproval from First Foundation is a much more in-depth process. Although mortgage preapproval is not a guarantee, your broker will do a thorough assessment of your financial situation, so you are less likely to face any unpleasant surprises when the time comes to sign. And with First Foundation's 120 day lock on interest rates, you'll also know exactly how much you'll be paying when you do find that perfect new place to call home. The rate hold means you can shop for your dream home without needing to worry about fluctuating interest rates. When the time comes and you're ready to make that big purchase, you'll already know exactly the deal that you will be getting.
Mortgage Preapproval Provides Peace of Mind
When shopping for property in Regina, mortgage preapproval gives you a more solid idea of how much you can borrow, and it allows you to lock in interest rates for up to 120 days. But it can also make it easier to find a real estate agent: some realtors may not want to work with you unless you have preapproval for your mortgage. They want to know you aren't wasting their time looking at homes you may not be able to afford. With mortgage preapproval, everyone can enjoy the house-hunting experience, confident in the peace-of-mind that comes from knowing your exact financial situation.
And because you're working with a broker from First Foundation, you will get the same great, personalized service along the way. Once you have your mortgage preapproved, you can relax and focus on finding your new Regina home, knowing that you're less likely to encounter any unpleasant financial surprises when the time comes to buy.