Home Ownership - The Road to Wealth

Saskatchewan mortgage process. Understanding the mortgage application process in CanadaHome Equity

For most Canadians, their main source of wealth is the equity they build up in their homes. 

Real estate is the only investment where you can increase your net worth while enjoying living in its source.  If this is your first time getting a mortgage, you may be unsure of the steps to take and the process required.  

Call Kincaid Mortgages before you start shopping for a home to make the whole process seamless.

What to Expect during the Mortgage Process

By working with a mortgage expert, you can learn what to expect through the process as well as what to expect as a homeowner. 

There are additional costs to buying a home, like closing and carrying costs, taxes, maintenance and improvements. 

When you sit down with an agent from Kincaid Mortgages, they will go through your finances, preferences and future goals, so your agent can  help you choose the terms and conditions that would best suit your needs.

Mortgage Broker Services

Saskatchewan vacation home mortgagesSimplifying the Mortgage Application Process

A mortgage broker simplifies the mortgage application process and takes care of all the tedious details. 

You only fill out one application form and have one credit report filed, then they shop it over lenders across Canada to get you the best mortgage rates and terms. 

Mortgage brokers have access to home loan products that often aren’t available to the general public.  They also work for you – not the bank – to give you free, unbiased advice.

You will learn how much you can afford to spend on a home, how much per month you can expect to pay for your mortgage and choose a lender.  This process is called a mortgage pre-approval. You will have at least 90 days with a guaranteed rate pre-approval, so you can shop for a home with confidence, staying within your price range.

You can then begin the home search with a realtor, looking at new and resale homes within your price range.  Once you find the home of your dreams, you can make an offer.  You can negotiate the price without financing being conditional, showing you are a serious buyer.

Once your offer is accepted, you will be required to make a deposit for the home.