Purchasing a home comes with a plethora of options and considerations. This procedure begins with you deciding on a budget, selecting a home, and obtaining bank approval. Pre-approval of your mortgage can save you a lot of time and make the process go more smoothly.

The Pre-approval letter contains both critical and minor details concerning the maximum property price for which you are qualified under the rules.

The best part about having your mortgage pre-approved is that it is completely free of charge, and it will also help you lock in your interest rate. The win-win situation is that if interest rates fall at the time of closing / taking possession of your home, you will be able to save money, and if the interest rate rise, the bank will not be able to raise the interest rate.

The pre-approval procedure you must contact the Red Star Mortgage Group Professionals where you can get the best answers of your questions from the Professionals and complete a quick pre-approval application. We’ll go over the facts, your down payment possibilities, the home-buying process, and your expectations, making home-buying a lot less stressful.

There are numerous new programmes offered by various banks for getting a mortgage to purchasing a Dream home, as detailed below.

• New To Canada Program
• Self-employment Program / Stated Income
• Gifted Down Payment Program
• Purchase Plus Improvements
• Rental Purchase Programs
• Vacation Property Programs
• Construction Mortgage
• Equity Mortgage
• Cab Driver Mortgage
• Commercial Property Mortgage