Will I Be Approved For a Mortgage?

When you ask yourself the question “will I be approved for a mortgage” you should consider how it will influence your lifestyle first and not just if the bank will give you the money. It may be hard to resist buying a home but sometimes it is better to wait. Here are 5 important points to consider when deciding if you should get a mortgage:

1. Your Personal Goals

Many of our clients at Robert Floris‘ Mortgage Architects office have varied interests. These include golf, travel, shop, sports or even a hobby. Ensure when buying a home or refinancing these goals and loves are still achievable and not just “will I be approved for a mortgage”.

2. Saving

You cannot come to our Hamilton Mortgage Office without us mentioning this. Nothing goes wrong when you have the ability to save. It gives the client options when an emergency or unexpected expense occurs. Many of the clients who come to see us have no lives because they have too much debt which affects their lifestyle. Many sadly live paycheck to paycheck.

3. Maintenance Required In The Home

I used to live in the beautiful Southwest area of Hamilton. I loved the area when I rented but did not decide to buy there. I chose a two-year-old home so I would not have to spend time on the home. I am not afraid to admit that I am useless with tools. I hate fix up projects and for that reason did not buy in the southwest where a project is required each year.

4. Neighborhood

Being married with two kids, I chose a neighbourhood that fit my lifestyle. I guess buying a condo in downtown Toronto was an option but it did not fit my situation. The area I chose fit my position of my kids (lots of schools and parks).

5. Biting Off More Than You Can Chew

This is easy to decipher. Having a home is great but having a life is better. Don’t have regrets. The will to prepare is vital.

People love having homes but having the will to prepare and construct a plan will help you enjoy a great life!

Robert Floris is a Mortgage Broker. His office is located at 651 Fennell Avenue East in Hamilton, Ontario. If you would like to speak with Robert, he can be reached at 905-574-9200 #215. Alternatively, you can contact Robert here.

If you would like to apply for a mortgage online, please follow this link.

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