When it comes to buying a home in a seller's market, it's more important than ever to speak to a Mortgage Broker BEFORE looking at houses 🏘 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Here are 5️⃣ reasons you should talk to a Mortgage broker before you begin house hunting: ⠀⠀⠀⠀⠀⠀⠀⠀⠀ 1. You know what you can afford 2. You have all your documents ready 3. You understand the financing process & your next steps 4. Shows the seller you are motivated and ready to buy 5. You're prepared to go into multiple offers ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Having your financial ducks in a row 🐥 before you look at houses with a Realtor is the right first step in buying a home. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ If you're planning on buying a home this spring or summer, be sure to reach out as early as possible to start your pre-approval. Send me a DM to get started 💸 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ • • • •⠀ #yegmortgagebroker #sprucegroverealtor #homebuyingtip #mortgageapproval #stalbertrealestate #edmontonrealestateagent #yegrealtorlife #canadianmortgages #yegrealestateagent #yegmortgages #mortgagerate #firsttimehomebuyertips #stalbertliving #yegrealty #yeggers #homebuyertips #firsttimebuyers #mortgageagent #mortgagepreapproval #mortgagespecialist #realestatelife #yegdt #yegbossbabe #itsasellersmarket #moveinready #springmarket #multipleoffers #sellersmarket #homebuying #mortgagebroker 
👀 You're never going to believe this BUT 25% of first time buyers receive gifts from parents or other family members for their down payment. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ It can be difficult to save for your down payment, so many first time home buyers leverage a gifted down payment to help buy their first home. 🎁 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ A gifted down payment from an immediate family member can help pay either a portion of or the entire down payment. 💸 It's important to remember that it is in fact a gift, not a loan. Gifted funds mean that you're not obligated to repay the person gifting you the money. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Often parents would love to help you with your first home purchase because they get to see you benefit and enjoy it now! 👏 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ This extra assistance can help you get started on the right foot. In some cases, it can help you make a 20% down payment to avoid paying extra for mortgage insurance. In others, it will still help you reduce your mortgage payment and buy your first home sooner! ⠀⠀⠀⠀⠀⠀⠀⠀⠀ When planning on buying your first home and need advice on your down payment, get in touch with me and I'd be happy to help! 📲 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Source: Mortgage Professionals Canada’s Annual State of the Residential Mortgage Market in Canada report. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ • • • •⠀ #savingforahouse #homefinancing #ownahome #downpayments #downpayment #firsttimehomebuying #firsttimehomebuyertips #newhomebuyers #firsttimehomeowners #firsttimehomeowner #mortgageapproval #homebuyingtip #yegmortgagebroker #yegrealtors #yegrealestateagent #edmontonrealestate #homepurchase #mortgagebrokers #mortgagetips #mortgageadvice #realestatetips #firsttimehomebuyers #firsthomeowner #stalbertre #yegre #yegwomeninbiz #homepurchase #mortgagepreapproval #firsttimebuyers #yegbiz 
How much can I afford? 🤔 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Mortgage affordability refers to how much you’re able to borrow, based on your current income, debt, and living expenses. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ It’s essentially your purchasing power when buying a home. The higher your mortgage affordability, the more expensive a home you afford to purchase. 💯 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Perhaps the most important factor that impacts mortgage affordability is a homebuyer’s debt service ratios. Lenders use two different debt service ratios when determining affordability: gross debt service ratio (GDS) and total debt service ratio (TDS). ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Keep in mind that most lenders allow for maximum GDS ratios of 39% and TDS ratios of 44% if you have a good credit score and reliable income. ⭐️ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ As of July 1st, 2020, CMHC implemented new GDS and TDS limits for mortgages that it insures of 35%/42%. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ The changes have had minimal impact on borrowers as Sagen and Canada Guaranty, the two other mortgage insurers in Canada, did not follow suit and change their limits. Consequently, mortgage lenders will continue to use the maximum limits available through the other insurers. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Want to know how much you can afford? Reach out and I'd be happy to find out what mortgage affordability looks like for you! 😊 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ • • • •⠀ #homebuyingtip #yegmortgagebroker #mortgagepreapproval #sprucegroverealtor #stalbertrealestate #stalbertrealtor #realestatetips #firsttimehomebuyers #firsthomeowner #mortgageagent #mortgageprofessional #mortgageexpert #homeownership #homebuyingtips #firsttimebuyers #letstalkrealestate #mortgageapproval #mortgagespecialist #mortgagetip #mortgagetips #stalbertre #yegre #yegrealestate #stalbertrealestateagent #yegwomen #yegwomeninbiz #yegrealtor #approval #homebuyertips #homepurchase 
It's so much more than just a real estate transaction. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ One of the reasons why I started as a Mortgage Broker is because I'm passionate about helping people and wanted to find a way to make the process easier for clients. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ I think it's so important to ask yourself "What would I want when buying a house, renewing or refinancing my mortgage?" and to incorporate all of those things in your process to make the jump from providing a service to an experience. ✨ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ I'm in it because I believe that no matter how fast things can happen in this industry, it's so important to make time for the relationship and for clients to truly understand the process so they can feel confident in their decision in choosing the right mortgage. 🙌🏼 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ A lot of people think I am in the business doing mortgages. I really don't look at it that way. I am helping you create, perhaps, the largest debt in your life, and therefore, I have a responsibility to help you manage that debt. 💰 I see my primary role as helping my clients integrate the mortgage they select into their overall long and short-term financial and investment goals and their payment and equity objectives. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ If you're looking for the right Mortgage Broker then make sure to reach out, I'd love to tell you more about the process of working with me so you can decide if we are a good fit. 😊 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ • • • •⠀ #bizbabes #inspiredwomen #babesinbiz #femalebusinessowners #womeninbizz #growingmybusiness #fempreneurship #purposedrivenwoman #businesswithpurpose #businessbydesign #yegbossbabes #yegbusiness #yeglocal #yegwomeninbusiness #yegwomeninbiz #yegwomen #yegentrepreneur #yegcommunity #yegmortgagebroker #yegbusinesswomen #yegre #yegrealestate #albertarealestate #edmontonrealestate #stalbertrealestate #stalbertre #yegrealtor 
It's so important to remember this, it may just change your home buying mindset 😊 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Whenever you're ready to get started, reach out and I'm here to help you! ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ • • • •⠀ #yegrealestateagent #sprucegroverealtor #yegmortgages #yegmortgagebroker #edmontonrealestateagent #yegrealtorlife #firsttimehomebuyertips #stalbertrealestate #edmonton #edmontonalberta #edmontonbusiness #edmontonhomes #edmontonlife #edmontonliving #edmontonphoto #edmontonrealestate #edmontonrealestatemarket #edmontonrealtor #firsttimebuyer #firsttimehomebuyer #firsttimehomebuyers #firsttimehomebuying #firsttimehomeowner #firsttimehomeowners #stalberthomes #stalbertlife #stalbertre #stalbertrealestateagent #yegre #yegrealestate