How Much Should I Borrow?
Preparing for a real estate purchase is an exciting time - picturing yourself holding the keys to your very own home can be exhilarating.
In addition to this elation, there could be some anxiety about the financial commitment you are about to make.
Researching home loans and determining future mortgage payments can be a little daunting knowing the responsibility it entails.
However, speaking to a mortgage broker about the best path to choose can help you mitigate some of these fears.
Talking through your finances - including income, expenses and payments - with a qualified professional can answer some of the pivotal questions you have about securing a loan.
Figuring out not only how much you can borrow but also how much you should borrow can help set you up for a future of payments that you can truly handle - rather than getting in over your head.
Accounting for potential career changes, new family additions and other major purchases will paint a picture that you and your mortgage broker can use to determine your best course of action in securing a loan.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.