When it comes to purchasing a home, there are many important players in the game, and one key team member you shouldn't overlook is a mortgage agent. The role of a mortgage agent in the home buying process is often underestimated, but their expertise and guidance can make a world of difference. In this blog, we'll delve into the valuable contributions a mortgage agent can make to your homebuying journey and why partnering with one is a smart move.

As a prospective homeowner, you may have spent countless hours envisioning the perfect abode that suits your lifestyle and aspirations. However, before you can unlock that front door and call it your own, there is an essential step that stands between you and homeownership: saving for a down payment. Saving for a down payment can seem daunting, but you can turn this aspiration into a reality with the right strategies and a disciplined approach. 
Whether you're a first-time buyer, upgrading to a larger space, or relocating to a new area, we will provide valuable insights, tips, and actionable steps to accelerate your savings journey in this blog. From understanding the significance of a down payment to exploring creative ways to boost your savings, we'll cover it all.
 

Applying for a mortgage can be a daunting task, especially when dealing with traditional financial institutions. That’s where Vic Lehan & Associates, your licensed mortgage professionals in Leamington, Ontario, come in. We understand that each mortgage application is unique, and we’re here to guide you through the process, even if you’ve faced challenges with banks in the past. With our extensive experience and personalized service, we aim to match you with the right mortgage solution for your specific needs. In this blog, we’ll share five valuable tips to prepare you for a successful mortgage application.

As you take this significant step towards homeownership, understanding the intricacies of mortgage rates becomes paramount in creating a reasonable budget for your new abode. Influenced by various factors, mortgage rates play a crucial role in shaping your financial commitment. Armed with knowledge and insights will empower you to confidently make informed decisions and navigate the complexities of the housing market with confidence. In this blog, we will delve into first-time home buyer mortgage rates, exploring the factors that influence them and providing valuable information to help you chart a successful path forward. So, let us embark on this enlightening journey together and unravel the mysteries of first-time home buyer mortgage rates in Leamington, ON. Get ready to make informed decisions that will set the foundation for your dream of homeownership!
 

Are you ready to embark on the exciting journey of buying a new home? As a licensed mortgage professional at Vic Lehan & Associates, I understand that the mortgage process can be overwhelming, especially for first-time home buyers. That’s why I’m here to help you navigate through the complexities of obtaining a mortgage. In this blog post, I will answer some frequently asked questions to provide you with valuable insights and guide you toward making informed decisions. Let’s dive in!

Planning to buy a home is an exciting journey filled with dreams and aspirations. However, before you can unlock the doors to your dream house, one crucial factor can significantly impact your ability to secure a mortgage: your credit score. Your credit score reflects your financial responsibility and plays a pivotal role in determining your mortgage's interest rates, loan terms, and overall affordability. Fortunately, even if your credit score isn't where you want it to be, you can take steps to improve it. In this blog, we will explore practical and actionable steps you can follow to boost your credit score and increase your chances of securing a favorable mortgage. So, let's dive in and unlock the door to a brighter financial future!
 

Are you a self-employed individual struggling to qualify for a mortgage due to your income taxes? It can be disheartening when the banks let you down. But fear not! Vic Lehan & Associates, the trusted licensed mortgage professionals in Leamington, Ontario, have specialized programs designed exclusively for self-employed individuals like you. In this blog post, we’ll share a real-life success story of how we helped a client overcome income qualification challenges and achieve their homeownership dreams. Discover the strategies we employed to tackle the issue and how our expertise can make a significant difference in your mortgage journey.

Purchasing a beautiful home in a cozy neighbourhood can be the start of a new life for you and your family. However, before you receive the keys to your new house, you’ll need to overcome the stress test and tackle rising interest rates. So it’s best to work with a mortgage broker.

Buying a house, particularly for the first time, can be daunting. The decisions you make along the way could save you or cost you thousands of dollars. Most people who buy a home do so with a mortgage. A mortgage is a necessity if you can’t pay the full cost of a home out of pocket. There are some cases where it makes sense to have a mortgage on your home even though you have the money to pay it off. For example, investors sometimes mortgage properties to free up funds for other investments.

With a desperate need to cool down the housing market in Canada, the government recently amended the qualifying rate of the stress test. The qualifying rate affects how much mortgage applicants can get approved for when buying a house. However, the qualifying rate is not the actual interest rate an applicant pays for their mortgage.

Original Article Source Credits:   Financial Post , https://financialpost.com/

Article Written By:  Clayton Jarvis

Original Article Posted on:  Jul 02, 2021

Link to Original Article:  https://financialpost.com/moneywise/mortgage-debt-in-canada-is-soaring-thats-no-reason-to-panic

Original Article Source Credits:   CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  June 22, 2021

Link to Original Article:  https://www.canadianmortgagetrends.com/2021/06/low-rates-helping-borrowers-pay-off-mortgages-at-record-pace/

Original Article Source Credits: Global News , https://globalnews.ca/  

Article Written By:  David Lao 

Original Article Posted on:  May 23, 2021 

Link to Original Article:  https://globalnews.ca/news/7885116/mortgage-stress-test-changes-2021/

Original Article Source Credits:   Better Dwelling , https://betterdwelling.com/

Article Written By:  Kaitlin Last

Original Article Posted on:  MAY 24, 2021

Link to Original Article:  https://betterdwelling.com/canadian-real-estate-is-seeing-home-buyers-fall-faster-than-sellers/

Original Article Source Credits: Government of canada, https://www.canada.ca

Article Written By: NA

Original Article Posted on: 2020-12-29

Link to Original Article: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/preapproval-qualify-mortgage.html

Original Article Source Credits: canadian mortgage trends, https://www.canadianmortgagetrends.com

Article Written By: Steve Huebl

Original Article Posted on: April 8, 2021

Link to Original Article: https://www.canadianmortgagetrends.com/2021/04/homebuyers-to-face-more-stringent-mortgage-stress-test-after-june-1

When it comes to financing your first home, you may think that the best way of obtaining a mortgage is to follow others who have already been in your shoes. While this can be helpful on some occasions, the people you ask for help may offer you recycled information about mortgages, which is much more myth than factual.

If you’re venturing into the real estate industry to invest in your future home, having the right mortgage product can make the purchasing experience more manageable and affordable. However, the perfect mortgage won’t fall onto your lap that easily.

What is the difference between a bank and a mortgage agent? When you work with a bank for a mortgage, you are limited to their options. Moreover, the bank focuses on its own interests first and only then on yours. Mortgage agents, on the other hand, are licensed professionals who give your needs first priority. They negotiate on your behalf for better rates and deals. They help you with paperwork and are available when you need them.

Thanks for stopping by our blog. If you’re looking for more information about Vic Lehan & Associates, you’ve come to the right place.