The best properties on the market always sell the quickest, and having access to REAL-TIME information is often the difference between finding a great deal on the right property or just hearing about it after its gone. I use a Prospect Matching System for every active buyer I work with, so no matter who brings that listing to market, we know about it as soon as it is processed at the EREB. As a Member of my Virtual Office Website (VOW), you too can set up your own searches with email notifications that come directly to you as soon as they are posted. If you are just starting your search and not quite ready to ask for help, its a great way to stay informed with what is out there on a daily basis. When you are ready, just give me a call and we will get started!
If you are a client and working directly with me you will have the added confidence that you are directly involved in property selection which is the way it should be. Nobody knows better what they want than you do and as a Member of my Virtual Office Website you can be as active as you want to be in that process.
Its not what you pay but how you pay for it!
I highly recommend that you speak with a free lance mortgage broker in pursuit of your financing.
Not so you know what you can afford, but to SECURE and INTEREST RATE. They are specialists and have access to mortgage money from several dozen sources that offer programs that often cant be beat by a stand alone bank. If a Lender has ever treated you like they are doing you a favor, you are in the wrong place! Remember who pays the interest! In todays world of finance Lenders are highly competitive, but only if you know where to find them. A good Mortgage broker can help you tailor financing to suit your personal needs and if you dont know anyone in that industry, just ask. I can help.
From the qualifying side you will need to meet two ratios for debt service to qualify for financing assuming you have a decent credit rating.
The first is the Gross Debt Service (GDS) ratio where approximately 30% of your total monthly gross income can be used to service your Interest, Principal and Tax (IPT) payments. For condo and first time buyers, lenders may require a portion of the condo fees or heating costs to be included in that qualification.
The second is the Total Debt Service (TDS) ratio where you can only use 40% of your total gross income to service your IPT payments and any other debts you pay over time. Car & furniture loans, personal loans and lines of credit all fall into that calculation, as can large credit card debt.
If you were only going to follow only one piece of advice I have to offer, follow this one! In 10 to 15 years what you pay for your home will be really insignificant, but what you pay in interest wont be, and nothing is truer than the statement under Pre-qualifying. Find yourself a mortgage company that not only offers a competitive rate, but the most flexible prepayment privileges as well. Structure all your financing in a manner that works best for you. Sometimes that means consolidating your most expensive debt with less expensive sources of money. BUT use a professional. Like me, they cost you nothing when you are a buyer.
FINDING THE RIGHT PROPERTY
Tell me what you want and I will help you find it! My most important contribution outside of locating property and sharing my experience is making sure you dont make any mistakes buying the wrong property. If you havent already heard me say Im not just interested in your business this time, I want to be your realtor every time, now is as good of time to share one of my strongest personal philosophies. After 22 years in real estate there is no bigger reward than having the privilege to represent someone a second or third time and no greater thank you than having someone share your name with another person interested in real estate. If I see you making a buying mistake, I will say something, if there is a history you should know about, you will, and if I think for a minute that you will have trouble selling that property in the future I am going offer my professional opinion even when that means I may lose a potential deal.
Real Estate the way you want it to be!