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10 Awesome Tips For Getting A Mortgage To Buy Your Dream Home

  1. Get pre-approved early! Before you start your home search be sure to get pre-approved for a mortgage so you know how much you qualify for.
  2. Have all of your documents easily accessible in one place. SYO Mortgage has your own secure doc wallet where you can upload and store all of your documents.
  3. Do not let multiple people pull your credit. SYO Mortgage only pulls your credit once but is able to shop to over 25 lenders.
  4. Do not apply for any new credit cards or any financing during the loan process.
  5. Be prepared to source all large deposits in your bank account. Lenders want to trail the money to see where it came from.
  6. Make sure you save a minimum of 3 months mortgage payments plus closing costs. Closing costs will be approximately 3% of your loan amount.
  7. Shop title insurance, homeowners insurance and all services needed instead of letting your broker choose for you. You can save a considerable amount of money shopping for title and homeowners insurance.
  8. Be patient.
  9. Ask questions.
  10. Follow the lead of your mortgage broker all of the way until closing.