Blog

08 Jul

First time home buyer tips

Being a first time home buyer can be quite daunting. Here are a few tips from mortgage experts which can help you make the process easier!

While being on the hunt for your first home can be exhilarating, one wrong move can hurt your chances of stress-free ownership. There are a few simple measures a first time home buyer must take to ensure that the end result is a happy family in a happy home. We’ve put together a list of the most important tips for a first time home buyer:

5 tips for first time home buyers:

  •  Mind your budget
  •  Get pre-approved
  •  Save for down payments and expenses
  •  Hire a mortgage broker
  •  Keep your credit score in shape

Get your first home with ease with our first time home buyer tips. Contact Toprate Mortgage today.

The biggest mistake first time home buyers make today is spending spontaneously on a house they really can’t afford. Minding your budget is of utmost importance for a stress-free experience. You are the one who has to pay off the mortgage, be sure you can handle the burden.

Getting pre-approved has helped many first time home buyers get their dream home on a lower rate as it proves to the seller you are more serious and actually capable of paying the price than the person offering them a larger amount without a pre-approval.

Down payments, upkeep costs and maintenance costs are going to pile up the moment you buy a house. Saving for these can help you take a load of your shoulder in the long run and keep your expenses in check on a monthly basis. Keeping your credit score in check can help you make the process of getting approved even easier.

Mortgage brokers are a godsend when it comes to buying a house for the first time. Experts in their field, they ensure you get the best plans and rates and are even sometimes helpful in home hunting.

Be a relaxed first time home buyer with Toprate Mortage tips.

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18 May

How to Get the Best Mortgage Deal?

How to Get the Best Mortgage Deal?

Mortgages are a significant part of your biggest purchases in life. Owning a home is something everyone dreams of and is well aware of the costs attached to it. But one is not usually aware of how much the cost can be reduced by simply paying extra attention to their mortgage deal. A simple fall in the interest rate can save you thousands of dollars in the coming years. Or simply drag in tenure can cost you an entire renovation expense. So how can you avoid paying extra and how can you secure the best mortgage deal?

Do Your Research

The mortgage market can be fluctuating like any other market and striking at the right time matters. Mortgage seasons can vary as well. Usually, homeowners are out on holidays during their summer and hence most good options are not open during that time. Similarly, winter weather does not allow most sellers to resent their house at its best potential which eventually makes them wait until February to put out a running add.

Use Your Contacts

In order to secure the best mortgage deal, you need to shortlist the best suitable lender for you. Depending on your requirements, history, employment status, you can shortlist the lenders and their offered rates. You now need to use up your contacts to reach the lender and have your application accepted at your targeted rate.

Improve Your Application

To get the best mortgage deal, your mortgage application is one of the most important deciders. You can improve your application in multiple ways, such as improving your credit score, offering a bigger down payment or showing a higher/actual source of income in case of self-employed mortgage seekers.

Call Us to Get in Touch With One of the Best Mortgage Brokers In Town!

Or Simply Hire a Good Mortgage Broker!

One Way you can assure that all the above steps are covered is by approaching a good mortgage broker, explaining him your requirements and simply getting access to all his contacts and offers. Mortgage brokers are compensated well for their service through their lenders and hence do not cost much to the mortgage buyers.

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18 May

Mortgage Professionals

Mortgage Professionals

Mortgage Professionals is a blanket term which constitutes all the types of people involved in the mortgage industry and that go in the completion of a mortgage. Mortgage professionals in Canada have a trade association, namely & Mortgage Professionals Canada, founded in 1994. This association provides accreditation to the various qualified people with the designation of a mortgage professional, in whatever category he is. Apart from that they also take up consumer education and awareness activities and events and is information providing organization to the mortgage professionals.

Who all constitute as Mortgage Professionals?

Mortgage Brokers

Mortgage Brokers are the most important catalysts in a mortgage transaction. Majority percentage of the mortgage deals that take place is through the mortgage brokers. Mortgage brokers had started gaining importance in the late twentieth century when competition in the mortgage lenders increased drastically. Mortgage brokers are prominent people in the mortgage transactions because they connect the mortgage seekers to the mortgage lenders, and provide many other services than just brokerage. Other services provided by mortgage brokers include legal work, financial and real estate consultancy etc. A mortgage broker’s major share of income comes from the commission that they receive from the mortgage lenders.

Contact us to Get In Touch With the Best Mortgage Brokers in Markham!

Mortgage Lenders

Mortgage Lenders include financial institutions such as Banks, Non-banking financial companies, Financial associations etc. The type of loan a mortgage seeker seeks is important, but the type of lender he chooses is even more important. Among numerous types of mortgage lenders and mortgage options available, mortgage brokers are able to best guide the mortgage seekers to their desired choices.

Mortgage Insurers

Mortgage Insurers, as it literally means, are the insurance providers to the mortgage lenders to protect them from defaults by the Mortgage seekers. Generally, big insurance companies and government companies constitute mortgage insurers.

Other Stake Holders

Other Stake Holders under mortgage professionals refer to the Mortgage regulators i.e Mortgage Brokers Regulator’s Council etc., consumers education professionals, administrative body, the Canadian Government.

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22 Apr

Independent Mortgage Broker by Nasser Yaltaghian

Independent Mortgage Broker by Nasser Yaltaghian

Buying a home is one of our biggest leaps in our lives, attached to which comes a mortgage plan. Your mortgage can be a good deal or a bad deal depending on your network and research. Good research will give you a clear picture of the different rates offered at different cities with different lenders. A good network will allow you to get approved by the best lender you shortlisted. In case you are not able to do both, you can simply appoint an Independent Mortgage Broker and get it all in a platter.

You might assume that since you would get a list of all lenders and their estimated rates so easily, a mortgage broker might come at a significant cost. Well, you are wrong, Nasser Yaltaghian will break a few such myths and enlighten you with what an Independent Mortgage Broker really is:

What Do They Do?

As our name suggests, independent mortgage brokers are free from any association with a particular lender, but have access to multiple variety of lenders ranging from banks, private lenders and also financing institutions. Being a profession, we have deep market knowledge which allows us to filter any bad or high rated deal for you instantly. Our wide access to lenders allow us to cater to all borrowers ranging from self-employed to first time home buyers without any prior credit rating.

Contact Nasser Yaltaghian for More Queries on an Independent Mortgage Broker!

What Do They Cost?

Independent Mortgage brokers are well compensated from the lenders for our services. However, to differentiate an established mortgage broker, you will be charges a fraction of his commission, which would be a negligible amount.

Who is a Good Independent Mortgage Broker?

It is easy to spot a good mortgage broker by his number of questions pushed on you. To get you the best deal, we need to know a lot of details from your previous transactions so that we can channel your application to the right lender rather than applying to all and wasting your time and money. Other than the interrogative nature you can always measure the network of lenders and the competitive rates a broker can offer you.

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First Time Buyers
08 Apr

How Exciting as Well as Tedious it could Get While Buying Your First Home?

How Exciting as Well as Tedious it could Get While Buying Your First Home?

“Home Is Where the Heart Is”, all of us have heard this before. As true as is sounds, how easy is it to define where our heart is? At times when we look forward to settling down, owning a home is one of our significant visions in it. Having reached this certain stage, hunting for a home you want set your heart in, grow a future in, and creating your master piece in, has to begin. This hunt has been done by many before, and will be done by many after you, but your catch will be yours for a life time.

First Homes are less about investments and more about desires. But getting a good deal in monetary terms can simply purify the joy of it. Unconditional satisfaction is what we seek to service our clients with when they are to purchase their first home. The steps are many, and being new to the process, it may get a little tedious, but with the right broker, buying your first home cannot get more easy.

The Part Where You Begin Your Search

We help you with fixing a budget in accordance with your income projections, and help you file your mortgage application without any glitches. We can arrange for pre-approvals for a precise shortlisting.

Apply For a Mortgage Pre-approval, Know your Buying Ability Today!

The Part Where You Shortlist the Home

Here according to the pre-approval or the determined budget, you will be shortlisting your choices, after which your locality and size specifications can be analyzed.

The Part While You Inspect and Finalize

Once you are almost there, a thorough inspection will be conducted on the property. After which your mortgage will let you access your home and begin your journey.

Take the First Step Towards Buying Your First Home. Apply for a Mortgage Today!

The Part Where You Own Your First Home

This however happens after a few years, where you have paid off the value of your home gradually. Your each monthly payment will increase your ownership share, and once fully covered, you will be owning your very first home.

 

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