Real-life tips to help you face your mortgage
Your wallet is not the only thing quivering when you go through the mortgage process. Your heart, brain and tightly wound nerves may need a little time to shake it off. We recommend putting on a good song and letting that guide you through the rhythm! Getting a mortgage is probably the most “adult” thing you could do. So, give yourself credit for that. You’ve made it, and you’re alive little possum (even if it’s barely).
We’ve come up with a few points to help you handle the emotional stress of this commitment. As a mortgage business, we have had the privilege of guiding many people through this process, and we’ve seen them soar and come out of it happy and fulfilled. These tips are sure to transform your mortgage journey from rocky to smooth.
When you feel yourself getting anxious or worked up, take a moment to get some air. This is a big one! It sounds simple, but it will make a huge difference. Whether that means stepping outside, drinking a glass of water, or just having a moment to yourself to breathe (in and out, in and out) – this may just save you from blowing a gasket.
Whenever you feel confused, lost or overwhelmed in the process, chat with us – our goal is to be transparent at all times. We understand the difficulties of deciding to go with what could be the biggest financial commitment of your life. As your mortgage broker, we also know that we are great at what we do, and will be able to get you mortgage-free as fast as possible.
Failing to plan, is planning to fail. The earlier you start getting your finances in order, the easier it will be to make adjustments and improve your standing.
Check out our mortgage calculators. We’d love to help you live the life of your dreams.
Budget like a boss! At the end of October we held a webinar covering the basics of budgeting. This was crafted for the person who is advanced, a beginner or just in-between. The aim was to create value for all levels! We loved motivating our Mortgage Allies community on such a personal level.
Click here to watch the recording and/or read the summary. We’d love for you to benefit as well.
We want you to know that we get it; getting a mortgage is a huge deal. It’s the home you want, and not necessarily the mortgage. That’s why it’s important to us that you get the best, most realistic mortgage option for your situation. Beyond that, we get you on your way to being mortgage-free as fast as possible.
To remember these quick and helpful tips, think of the word ‘DAWN’. Each new day that dawns gives us fresh life us fresh life – a chance to begin again, feeling motivated and ready to conquer. We’ve used this as an acronym for our four points to guide you through your mortgage journey.
Here’s a quick recap. Let it DAWN on you!
1. Deal with Tension
2. Ask, Ask, Ask
3. Work Within Your Budget
4. Never Forget the End Goal in the Mortgage Process
Getting a mortgage is one of the biggest financial commitments you will ever make. Our mortgage payment calculator will help you determine whether or not you can afford the monthly payments. Let’s take an honest look at where you are, and help you move towards your goal.
The Mortgage Allies closing costs calculator will help you find out what the total closing costs on your new home will be. Use this calculator to get a better idea of the total expense you can expect – this way you won’t feel too wounded when the bill comes.
MAXIMUM PURCHASE PRICE
Before you can take the first step, you need to understand your position. Use this calculator to see what you can qualify for. Once we’ve got the correct information, we can evaluate the setup and move you towards getting pre-approved for a mortgage.
Things don’t always go to plan, and that’s why we’ve developed a bridge loan calculator. The process may be simpler than what you imagined – run the numbers with our calculator, and let’s get you on the right track with your mortgage.
RENT VS OWN
Still wondering whether you should continue renting a spot or buy a place of your own? Our rent vs own calculator will help you determine what the costs of each option would be, and whether or not buying a place of your own would be affordable.
DEBT COVERAGE RATIO
In order to feel confident about your mortgage, you need to first make sure you’re able to cover the costs. All of the costs. Our Mortgage Allies debt coverage ratio calculator will help you ensure that your overall monthly debt and home expenses can be covered by your total monthly income.
FIRST-TIME HOME BUYER INCENTIVE
Our First-Time Home Buyer Incentive (FTHBI) calculator will help you make the most of this incentive. Put in the relevant information, and we can show you how to make the most of this program.
We love clients that are hungry for information because it leads to the right mortgage. Get in touch – let’s tackle these real issues when getting a mortgage, together.