Good advice from your mortgage broker in Toronto when you’re looking to buy your first or second home is about more than just getting the best mortgage rates. We specialize in quick approvals and fast turnaround times. When you’ve got all the right documentation, that could mean an approval within 24 or 48 hours.
Advice to Clients
We are the team that likes to supply good advice to our clients. That includes these tips for the things you can do when you’re preparing for a mortgage.
- Making sure your credit is in good shape is a priority. The best time to monitor your score is when you’re trying to present your credit worthiness to a lender. It’s the way to get excellent rates. Here’s a tip. Start by making sure that your credit score is accurate.
- Being realistic about the kind of mortgage and house you can afford is important. You might be looking for a mortgage rate that’ll require you to put down 20%. If you’ve only got five, you’ll need to recalculate what you can afford.
- As your mortgage broker in Toronto we also suggest that you take a careful look at any prepayment penalties before you sign. Doubling up on payments so you can get to be mortgage free quicker is a good idea. That is unless you’ll be penalized by getting to your end goal sooner.
- Be realistic about your down payment. Keep in mind that the more you can put down up front, the less your monthly payments. You might need to cut back on entertainment or other expenses so you can put more away for that initial amount.
OMJ Mortgage Capital is here to help. We have an experienced team that has a thorough understanding of financing and real estate structures. We are the mortgage broker in Toronto with a proven track record.
