The reason you have come to this website, is one or more of the following:
a) You are planning to buy a home in the future
b) You are planning to sell your home in the future
c) You are planning to rent a property
d) You have been referred to my website and are curious to know the contents.
Whatever your reason, you are here and I would like to give you some valuable information. All my clients have thanked me for sharing with them the secret of Clean Bill of Wealth. What is Clean Bill of Wealth?
As you know, when you go to your doctor for an annual health exam, you do not want it, but you need it, and hence you go to find out how your health is generally. During that time, some issues may come up which you were not aware about and therefore you can take steps to correct any health problems.
Similarly, once a year you need to go to a financial doctor (e.g. your tax preparer, your accountant, your mortgage advisor, etc.) and do a true financial and credit check on your records. You will not believe the secrets that are revealed during this research and that will truly astound you. For example, if you have not checked your credit bureau records for a long time, you might be surprised to note who is doing a credit check on you without your knowledge, which credit company or vendor has not updated your payment records, etc., which is affecting your beacon score and that in turn affects the rate you are charged when you go for a loan, or to buy a car, or for a mortgage, etc. Having the highest beacon score, means having a Clean Bill of Wealth, which you can use to your advantage at the right time.
Now if you have come to my website because you are planning to buy, sell or rent a freehold townhome, free hold town house, semi, detached, condo townhomes, cottage, apartment, etc. or any property in real estate Ontario, having a mortgage pre-approval is the first step and the best thing you could do. The advantages of having a written mortgage pre-approval (which by the way, is free and puts you under no obligation to buy, sell or rent!!) are as follows:
- You are able to lock in the best rate and therefore would know what your monthly budget would be approximately, once you own a home. Your realtor® can assist you in this regard.
- You are able to know how much amount the financial institution will loan you when you are buying (or when you are selling and then buying) and therefore can decide on how much you should pay for the home you are going to see.
- You have a secret weapon in your pocket to be used when the time comes to negotiate with the seller through your realtor, the lowest price for you. Once the seller knows you have a mortgage pre-approval, most often then not, you stand at an advantage as compared to someone who does not have a mortgage pre-approval.
- The last but, not the least advantage is that when the mortgage specialist is taking your information to do a credit analysis and decide on the best mortgage rate for your personal situation, something might crop up which you were not aware which could have been keeping your beacon score down. At the time of obtaining the credit report, you can come to know this information and fix it, if required. And if not required, you just get a "clean bill of wealth", to get the best possible mortgage rate. Isn't this what you actually want when you are planning to buy, sell or rent a property?
For more information on obtaining a Clean Bill of Wealth, please contact me or your financial advisor. You will be pleasantly surprised!
