Here’s what homebuyers need to know about the mortgage process.
Are you looking to purchase a home? If you are, the first thing you need to understand is the mortgage process in Canada. How does it work, and what can you do to make sure you get the best deal possible? While I’m not a lender, I’ve helped countless people buy and sell homes. That’s why today, I’m bringing you through everything you need to know to get started with the mortgage process.
You can listen to my full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:23 — Speak to a qualified lender
0:44 — How the bank finds what you can afford
2:01 — The stress test
2:33 — Conventional mortgages vs. insured mortgages
3:52 — How you can pay for a down payment
5:08 — What to do with no down payment
5:38 — Non-typical loans
6:43 — Wrapping things up
If you have questions about this topic or anything else, please call or email me. I am always willing to help!