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The mortgage loan process is a stressful and frustrating process. The idea is to make he entire process go as smoothly as possible. Be pepared when you sit down with your loan lofficer. Here are some helpful tips

1. Straighten out your finances. Make a list of your income and expenses

2. Check your credit card balance

3. Get a copy of your credit report on Equifax

4. Gather the information the bank will require ahead of time - tax returns, pay stubs etc.

5. Find out what the current lending guidelines are. Will you require loan insurance? Conventional or high ratio mortgage?

6. The Bank will require verification of your downpayment

7. Finally, qualify your lender. Look for a mortgage lender who is best qualified to meet your needs. Loan products, services, style and personal attention vary greatly.Find someone who is very experienced in the business and can guide you through the process and overcome any hiccups. E.G. if you are self-employed you'll require a lender who specializes in this type of borrower. 

Have a mortgage questions? Put Maggie Chandler's hyper-local experience to work for you! Call 604-328-0077 today!

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