"I can get approval for a mortgage …?
So my boyfriend and I are thinking of buying a house and I am a full time student with my own business, is a plumber who makes about $ 1,000 a week, sometimes more, after taxes. It was in this job for over a year. I have a part-time work in the call that I have been working for three years as well, and do an average of $ 130/wk after taxes. We live in Ontario, Canada. What are our chances of getting pre-approved for a mortgage on a house <$ 300,000? I have about $ 7,000 in debt, and good credit, no debt but credit is really bad … What can we do to make sure to get pre-approved?
It will not be easy, but it depends on your agent loan. The more you have to put down more attractive you are to a creditor, in these days that will not accept anyone with less than 20%, plus costs closing. Still, they are restricting the amount of the loan, even for people with pristine credit, so it really depends on the geographic region where you are looking for, and the loan officer. The numbers are giving, however, I doubt they would consider for anything much more than $ 150,000, for which you should still have $ 40-45k in cash on closing down and available. For the $ 300 billion you're talking about, must have cash of $ 70-75k down and close … if you have one, apply … the worst thing I can say is no. If not, do not waste my time. However, do not forget to apply for first time buyers incentive 8000 still available from the government of $, which will help a little. Good luck.
Ontario mortgage broker – Why use a mortgage agent?
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