7 Step-By-Step Guide To Becoming
A Homeowner In 2023 And What To Do To Avoid Over Paying

–Posted By Mahmoud Hamdan (aka Mike)–
Licensed Mortgage Agent level 2. FSRA Lic # M09002218 since 2009. Brokerage: Mortgage Outlet Inc FSRA #12628

Dear reader,

Today I am going to show you 7 easy steps to make your dream of becoming a homeowner in 2023 less stressful and more affordable.

In fact, this is the same approach I used to save my clients time and $1000’s of dollars along the way.

Topics Of Interest

Step 1: Getting pre-approved for a mortgage

Step 2: Working with experienced real estate professional (this one alone will put at least $5000.00 back in your pocket)

Step 3: Benefits of working with a mortgage advisor (this one alone can save you $1000’s of dollars in interest)

Step 4: Working with a reputable and experienced real estate lawyer

Step 5: How to find affordable home insurance

Step 6: Booking your moving day with a reliable and experienced mover

Step 7: What to do if your credit is below average

More Helpful Tips

1- New To Canada Program. Learn more.
2- Home Purchase Plus Improvement Options. Contact Mike Hamdan.
3- Using the Child Care Benefits as a source of Income. Contact Mike Hamdan.

Let’s Get Started 

Step 1: Getting pre-approved for a mortgage

When it comes to homeownership, getting pre-approved for a mortgage will make your dream of becoming a homeowner less stressful and more affordable and here is why?

The pre-approval process will help you determine the dollar amount and monthly payment you can afford based on your current situation, lender qualifying criteria and insurer guidelines. Once your deal is preapproved and you have a firm offer, revisit this page to compare Best Mortgage Rates

To get started, click on the image below, enter your contact information and a licensed mortgage expert will contact you to discuss your needs in greater details:

Step 2: Working with an experienced real estate professional

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Here Is A Common Scenario Of What
The Average Consumer Go Through When Shopping For A Home

As the old saying goes, the more you know, the more you save and the less you know, the more you pay and I am going to illustrate my point in a common scenario and perhaps you or someone you know can relate to it and put it to good use. In this example, I will not be using actual names rather I will be referring to Mr and Mrs X.

Mr and Mrs X, are tired of renting and they decided to buy a house of their own, so they asked a friend to recommend an experienced real estate professional to contact.

Indeed, a referral was made and the couple reached out to the real estate agent to discuss what they are looking for in a home, neighbourhood and price rage. If you are not working with a real estate agent, here’s how to find a comprehensive list of friendly, https://amjcampbell.com/knowledgeable and reliable real estate agent and homes for sale that are within your pre-qualified price range.

If you are considering a move in GTA, make sure to check out this homebuyer incentive offer

Sounds reasonable, but in their case, how can they be certain that the rate they received is the best rate they could get for the same mortgage without physically been able to compare rates and offers side by side?

Next, the agent advised the couple to contact one of his trusted mortgage brokers to see how much they could qualify for based on their income, down payment and current situation.

The couple made the call to the trusted mortgage broker, answered few questions and completed the application form and few days later they were presented with few options and a pre-approval certificate.

The couple got all excited and contacted their real estate agent to book viewing. A week later, they found the perfect property and decided to make an offer. After some intense negotiations back and forth, the seller accepted their offer and they had 5 days to secure their approval.

The next day, they contacted their mortgage broker to get the process started and they were pleased to know the approval rate is better than what they were initially received.

Sounds reasonable, but in their case, how can they be certain that the rate they received is the best rate they could get for the same mortgage without physically been able to compare rates and offers side by side?

Today Best 5 Year Fixed Mortgage Rates

Today Best 5 Year Variable Mortgage Rates

Well, they are not alone and it’s costing the less fortunate person $1000’s of dollars in unnecessary interest costs over the term of the loan and the bleeding doesn’t end there because the same thing could happen when searching for:

Real Estate Professional
Real Estate Lawyer
Home Insurance
Moving Company
And the list goes on and on.

Well, thanks to lowlowrates.ca business model, you can now refer to the site as often as you wish and compare mortgage rates/offers side-by-side and with a click of a mouse get connected with multiple real estate professionals, lawyers, insurance providers and movers and then proceed with the option that’s best meet your current situation and budget.

As simple as that may sound, without the help of lowlowrates.ca, you may spend hours, days or even weeks trying to sort through mortgage brokers, real estate professionals, lawyers, insurance providers and movers and there is no way of knowing if you have secured the best deal out there or wasted $1000’s in unnecessary expenses?

But it doesn’t have to be this way. Go ahead and give lowlowrates.ca a try, it may save you a bundle and bring you peace of mind.

Step 3: Benefits of working with a mortgage advisor

An Experienced Mortgage Advisor Will Assess Your Overall Situation & Make Suitable Recommendations At The Best Rate And Terms

Mortgage brokers/agents/experts or whatever you want to call them, are out to ensure your needs are met and they do it on many different level.

  • Some compete on rates
  • Some compete on customer service and response time
  • Some compete on flexible loan options
  • Some compete on incentives
  • Others compete on making sure you receive all of the above

Ideally, you want to ensure you have achieved all of the above!

The question is, how would you know if you have successfully secured the best mortgage rate without comparing mortgage rates and exclusive mortgage offers and rewards side-by-side?

One thing to keep in mind, it really pays to utilize the services of an experienced mortgage broker/agent/expert, because he/she is not limited to a specific product offering from one specific lender.

In fact, an experienced mortgage broker/agent/expert has successfully completed 100’s of deals that are similar to your situation and by utilizing his network of lenders, he/she can easily access the best loan option at the best rate to ensure your needs are met and your saving is maximized.

As simple as that may sound, without the help of an experienced mortgage broker/agent/expert, you may spend hours, days or even weeks trying to sort through rates and product offerings and there is no way of knowing if you have secured the best deal out there or wasted $1000’s in unnecessary interest costs?

Skip the hassle, simplify your life and put lowlowrates.ca to the test, it may save you a bundle and bring you peace of mind.

If you have any question or need more information, click here to complete the form and a licensed mortgage advisor will contact you to discuss your mortgage needs and provide access to participating real estate professional.

Step 4: Working with a reputable and experienced real estate lawyer

Why You Need An Experienced Real Estate Lawyer On Your Side?

New and existing homeowners seek the help of an experienced real estate lawyer for many reasons; here are four of the most common ones:

  • Buying a property
  • Selling and buying
  • Refinancing
  • Renewing / Transferring

An experienced real estate lawyer offers advice and guidance you need at a time and place convenient for you and ensuring that your rights are protected and your real estate transaction is handled with care from start to funding.

With that in mind, here are a few pointers to keep in mind:

  • If you are buying a property, you need to retain your own lawyer to close the deal. The legal fee is your responsibility.
  • If you are selling and buying, your lawyer can assist you in both transactions and you’re required to cover the legal fee for both deals.
  • If you are refinancing an existing loan, you need to retain your own lawyer to close the deal.

The legal fee is your responsibility, but chances are you might be able to utilize the lender legal department services at a lower rate.

Be sure to discuss this with your mortgage advisor in advance and then make a decision based on what’s best for you.

Connect with reliable mortgage advisors and compare Ontario best mortgage rates.

  • If you are renewing your existing loan with your current lender and not making any changes to the existing loan, your loan is renewed at no cost.

But, before your sign the renewal documents, be sure to utilize the help of the broker channel for a second opinion. Chances are you might walk away with a better rate and terms.

  • If you are transferring an existing loan to a new lender, most lenders will cover the legal fee provided your current mortgage is registered as a standard mortgage “Non Collateral” and no HELOC or secured line of credit is registered on title with your current lender. Your mortgage advisor will assess suitability and advise accordingly.

Connect with experienced real estate lawyer now.

Step 5: How to find affordable home insurance?

5 Tips To Keep In Mind When Shopping For Home Insurance

As a homeowner myself, I have dealt with insurance representative for the past 25 years and as a result I have learned a thing or two when it comes to comparing home insurance quotes and coverage and I am going to share my findings with you right here.

Here you go…

When it comes to home insurance, consumers have the tendency to focus on price rather than choosing a home insurance policy that balance price and coverage.

There are many factors that influence the cost of the home insurance coverage you choose for your house or condo.

Here are few pointers to keep in mind when discussing your home insurance needs with the insurance representative to ensure you have a better understanding right from the start:

  • What does your home/condo insurance policy really cover and what’s excluded?
  • What additional coverage can you add down the road?
  • How the premium is calculated verse deductible?
  • How the liability coverage works?
  • Make sure you are dealing with a provider with the least amount of claims?

Need help comparing home insurance coverage? Click here to compare home insurance

Step 6: Booking your moving day with a reliable and experienced mover

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Step 7: What to do if your credit is below average?

Is Your Bruised Credit Preventing You From Buying A Home?

Many lenders Offer Flexible Loans And Alternative Solutions For People With Bad Credit
In fact, an experienced mortgage advisor will match your mortgage needs with a variety of private and Institutional lenders who use common sense approach to get your mortgage approved at an affordable rate, so you can enjoy a comfortable mortgage payment throughout the term.

The funds can be used for a variety of reasons:

  • Buying a home
  • Refinancing and freeing up some extra cash
  • Debt consolidation
  • Renovations
  • Pay off your property tax arrears
  • Pay off Collections

And the list goes on and on…

There is really no reason to struggle to make ends meet. If you are ready to explore options, I am happy to help.

For a FREE, No Obligation Quote, Please Contact
Mike Hamdan at: 416-524-7471
Or By Email:
mikehamdan@mortgageoutlet.ca

(Some conditions may apply. All offers are subject to funds availability and E.&O.E.)

More Helpful Tips

  • New To Canada Program. Learn more. You have options between fixed or variable rates. Click here to compare best mortgage rates in Ontario
  • Looking to buy a home that requires some improvement? Good news, most lender offer loans under the Purchase Plus Improvement Options: (Contact Mike Hamdan for details)
  • Did you know you can use the Child Care Benefits as a source of Income? This program is available with some lenders as long as you can provide:

A- CRA Tax Benefit Confirmation
B- Banking Statements for the last 3 months confirming deposits)
C- Child Date Of Birth. (birth certificate works)
(Contact Mike Hamdan for details)

That’s about it

If you have any questions, please feel free to email me at: mikehamdan@mortgageoutlet.ca or simply leave me a comment below right now:

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