We’ll review your credit, income and more to see how much you can afford to spend on a home using a few tools, including our mortgage affordability calculator. This way you know what houses you can look at when shopping or what your saving plan will be over the coming months to get you to your goal.
We’ll look at mortgage options and types to discuss what will likely be the right fit for you and whether the mortgage will need to be insured or conventional based on the amount you will have for a down-payment.
If you apply/pre-qualify at this time we can lock-in the current rate for 90 days—that way if the rate goes up you get the better rate but if the rate goes down before you buy your home we will give you the lower rate.
We’ll figure out at the current mortgage rate (based on your anticipated house price) what your mortgage payments will be.
We’ll make sure there is an understanding on what other expenses there are with buying a home (like land transfer tax, lawyer fees, home insurance, etc.) and what programs are available by the government or elsewhere to help.
This is a great meeting to ensure you have a solid understanding of all that is involved in the home buying process, what all the different words and terminology mean that will get thrown your way, and what we can provide you at Mainstreet for advice, home-buying options, other perks, and more.