Avoid These Common Mistakes By Hiring A Licensed Mortgage Broker
I'm Cathy Roddy, a licensed mortgage broker in Kingston, Ontario. With years of experience in the industry as a mortgage expert, I know the ins and outs of the mortgage system, and I have helped many clients navigate through the various challenges they faced in securing the right mortgage.
In this blog, I will share with you some common mistakes that people make when trying to secure a mortgage and how hiring a licensed mortgage broker like me can help you avoid these mistakes.
1. Not checking your credit score before applying
One of the most common mistakes people make when applying for a mortgage is not checking their credit score. Your credit score is one of the critical factors that lenders consider when deciding whether to approve your mortgage application. Before applying for a mortgage, it's essential to check your credit score to ensure that it's accurate and that there are no errors that could negatively impact your application.
As a licensed mortgage broker, I can help you check your credit score and provide advice on how to improve it if necessary. I can also help you identify any errors on your credit report and work with you to correct them before you apply for a mortgage.
2. Not getting pre-approved for a mortgage
Another common mistake that people make when applying for a mortgage is not getting pre-approved. Pre-approval is the process of determining how much money you can borrow before you start looking for a home. Getting pre-approved for a mortgage can help you determine your budget and give you an idea of what homes you can afford.
With my experience and expertise, I can help you get pre-approved for a mortgage. I can also help you shop around for the best mortgage rates and terms, which can save you money in the long run.
3. Choosing the wrong mortgage
Choosing the wrong mortgage can be a costly mistake. There are many different types of mortgages, each with its own pros and cons. It's essential to choose the right mortgage for your financial situation and long-term goals.
4. Not shopping around for the best mortgage rates
Finally, one of the most common mistakes people make when applying for a mortgage is not shopping around for the best mortgage rates. Different lenders offer different rates and terms, and it's essential to compare them to get the best deal. Don’t get swept away by the first offer.
As a licensed mortgage broker, I have access to a wide range of lenders and can help you shop around for the best rates and terms. I can also help you negotiate with lenders to get the best deal possible.
Securing a mortgage can be a complicated process, and there are many common mistakes that people make. Hiring a licensed mortgage broker like me can help you avoid these mistakes and ensure that you get the best mortgage for your financial situation and long-term goals.
If you’re looking for a mortgage broker in Kingston, Ontario, reach out to Cathy Roddy. I offer first-time home buyer mortgages, mortgage renewals, mortgage refinancing, reverse mortgages, private mortgage lending, self-employed mortgage, investment property mortgage, new Canada mortgage, mortgage pre-approval, home equity line of credit (HELOC), second mortgages, purchase plus improvements mortgage services, construction mortgage and more.
To learn more about the services I offer, please click here. To get in touch with me, please click here or call me at (613) 572-1117.