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I Have My Mortgage Pre-Approval…Now What?

Posted onAugust 15/2014By

Congratulations: You have your mortgage pre-approval! Many prospective homeowners concentrate on that one element so much that they lose focus once it’s accomplished. Now’s the time to shift your attention to the business of actually buying a house and moving in. There are a lot of different ways to go about this part, but below is a basic order of events for you to follow. List Your Needs Some people do this right at the beginning of house hunting, but you won’t really know your price range until you have that pre-approval in hand. Once you do, make a list of needs and wants, including: Type of house you prefer Lot size Indoor and outdoor features Square footage Type of neighbourhood Property tax levels School districts (if applicable) Your list will likely differ as everyone has different aspects that are important to them, but this is a good list to…

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How Can I Pay My Mortgage Off Quicker?

Posted onAugust 11/2014By

Most people seem to love the idea of having a home of their own, but the length of a typical mortgage is a debt many are not interested in. But building equity is a great financial decision, and when it’s paid off you’ll have an asset that is likely worth a lot more than you paid for it. If you’re in this group, you don’t have to shy away from mortgages entirely- There are many measures you can take to pay them off quicker. Find a Great Advisor Chances are, you are not a mortgage expert and could use great mortgage advice to discover all your available options. The big lenders like major banks are all competing against one another to provide you with the lowest rate, which is great, but they may not provide the best advice. Keep in mind that the longer you take to pay off your…

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Common Myths About Mortgage Brokers

Posted onAugust 07/2014By

Like any profession, it’s very easy to develop preconceived ideas about mortgage brokers. Once some people hear the word “Mortgage,” their minds start racing and they feel as though anyone involved in the process is only there for their own gain. Of course this isn’t the case, so we’re debunking some of the most common myths about mortgage brokers. Mortgage Brokers Deal with One Lender It’s true that some brokers work for a bank or single lender, but independent mortgage brokers don’t. An independent broker may work for a mortgage brokerage or have their own independent brokerage. The difference is that a broker who works with just one lender is obligated to use the products and services of that specific lender, while an independent broker can access the entire market to get clients the best deal available. Mortgage Brokers Deal with Questionable Lenders Another myth is that mortgage brokers deal…

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5 Effective Tips for House Hunting

Posted onAugust 04/2014By

Since your home is such an important part of your life and probably the biggest expense you’ll ever endure, it’s important to try and cover all your bases during the house hunting process. In all likelihood you’ll use a real estate agent for house hunting, but that doesn’t mean you can’t do some work of your own! Here are some tips to help you out: 1. Make a Checklist There’s nothing like a checklist to help ensure you keep track of important aspects of a home, and keep your sanity during the process. Make a list of all the features and elements that are important to you in a new home, then check off the appropriate entries at each house you visit. Try to leave space at the bottom for extra notes, so you can jot down any pertinent information. A simple paper notebook and pencil will do the trick,…

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Can I Buy a Section of Raw Land and Just Leave It?

Posted onJuly 31/2014By

Have you ever wished you could create a time machine, and travel back into the 70’s or early 80’s and start buying up fields and wooded areas where strip malls and subdivisions stand today? Who knew that kind of explosive growth the real estate industry would go through? Imagine owning even a few of those parcels of raw land, just sitting there waiting for someone to build on. Of course, there is no time machine and we may have missed that boat, but what about raw land today? Is it possible to buy it and just let it sit there, waiting for a developer to come along and make you rich? Not the 70’s or 80’s Naturally, the first thing you must keep in mind about buying raw land today, is that it is no longer the 70’s or 80’s. Land costs a lot more, and much of it has…

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