Great Mortgage Rates are Only the Beginning

ASK YOUR BROKER!

• Not all mortgage calculators are created equal. 
• Some banks will use 3% of an account balance to calculate your monthly payment and some will use the actual monthly payment. In some circumstances, certain institutions will allow you to pay interest only which may be less than 3% of the balance. When determining your monthly debt, this could effect the amount of a mortgage you can be approved for. It may appear that you have greater monthly debt than what your monthly payment actually is.
• Your credit score may change the amount of debt you are allowed to carry when applying for a mortgage.
•  There are a couple of different percentages used when determining how much debt a borrower can carry when getting a mortgage. These percentages, although there are exceptions, are usually 42% or 44% of your monthly earnings. The percentages are based on your credit score. Using the wrong monthly percentage of income may result in being preapproved for a mortgage amount that is more or less than what your credit score supports.
• Do Brokers have lower rates?
• Please contact me to inquire about what rate you qualify for. We can get some amazing rates. My goal is to exceed your expectations, help you decide on the right mortgage at a rate that works for you.
• Can I use part time earnings to calculate how much I make?
• How long do I have to be at a job before I can get a mortgage?

When it comes down to it, you will want someone who works with mortgages every day looking after your best interests so that there are no surprises on closing day when you go to move into your new home. Yes, this service is free to qualified borrowers.