Applying for a mortgage is an essential step for someone who is looking to buy a new home. Simple mistakes could spell the difference between you getting approved or denied for a mortgage… even with your required deposit in hand. In this video, I am joined by local mortgage expert Lynn Hrynyk of The Mortgage Coach, to dive a little deeper into the biggest mistakes you will want to avoid when applying for a mortgage in Barrie and the surrounding areas.
Mistake #1 – Do not change jobs
If you are looking to make a career change… do so after your closing! Now if it is unavoidable, sometimes staying within the same job type will help ensure you get approved. However, a letter from your employer stating that you are no longer in a probationary period may be needed.
Mistake #2 – No major purchases
We know this is an exciting time in your life but you should hold off on any major purchases until after you have closed. Do not go out and purchase a shiny new car, appliances and furniture right away for your new home. Wait until afterwards!
If you do have any question or are looking for more advice on the most common mistakes you need to be aware of when applying for a mortgage we strongly suggest reaching out to us here at Realty Barrie. By getting to know a little more about you, we can help better assist you in your real estate journey and together sit down with trusted mortgage experts like Lynn Hrynyk.
Feel free to call us anytime at 705.230.6972, or, chat with us live here on our website!