There are a few things you'll need to do in order to get the best mortgage for your needs. This guide will walk you through the process step by step. Mortgage lenders require a fair amount of documentation from potential borrowers.
If you don't have any of these documents, ask your lender for help getting them. Your lender will want to see your latest bank statements, including any recent mortgage payments or loans that you've taken out. For more information about how to compare mortgage rates in Ontario visit https://pekoe.ca/mortgage-broker-ontario/.
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If you've missed a payment in the past, be prepared to provide documentation of that as well. You'll also need to provide your lender with your most recent income statement and a list of all your current debts, including both credit cards and mortgages. Your lender will want to know how much money you currently have available to borrow.
One way to pay for a mortgage is to borrow money from a family or friends. Another way is to get a secured loan. A secured loan is a loan where the lender requires a security, such as a home equity line of credit or a pawn shop item, in order to lend money.
A third way is to get a pre-approval from a bank or credit union. This may allow you to get a lower interest rate on your mortgage.