Georgina Mortgages

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with

Diana Campbell

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430 The Queensway South


Office (Re/Max): (905) 476-4111

Cell Phone: (289) 221-2112

Mortgage Agent - Lic. #10409

Keswick, Ontario

L4P 2E1

Fax Machine: 1 (905) 656-6560

Email: diana128home@yahoo.ca

To qualify for a mortgage, is to determine whether or not a lender will finance your home, and if so, how much money they will lend you. Your mortgage agent will fill out an application which will require them to ask you for personal and financial information. There are three main categories of qualification: Credit, Income, and Assets/Liabilities.


Credit - (Names, Birthdays, Social Insurance Numbers, Addresses etc.). This information is used to confirm your identity and to pull a full and accurate credit check. Your credit score, history, balances and payments will all factor in to how much you can qualify for, just like any other loan. The higher your score, and the less debts you have, the better.

 

Income - (Employer, Job Position, Time at Job, Yearly Income, Previous Employment). This information will be used to determine how much money you can afford to pay per month towards your mortgage, and how stable your income is. Later, your mortgage agent may also ask you for pay stubs, job letters, etc. to prove this information to the lender.

 

Assets & Liabilities - (Account Balances, RRSP, Vehicle Type/Year, Credit Cards, Loans) Assets are needed so that lenders can get a better understanding of the clients financial situation. The agent will ask you for your liabilities, even though they will be listed in your credit check, just in case there is an error on the bureau.

 

Once all this information is collected, your agent will better understand your situation and be able to find a lender that suits your needs.

Qualifying

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