When Should You Talk to a Mortgage Broker? Sooner Than You Think
You’re living at home or renting, and you want to buy a house, but you don’t feel quite ready yet. Maybe you still have student loans or a car payment, and you’re wondering what to do next.
The first step is to talk to a mortgage broker. But when is the right time?
The common mistake: waiting until you’re “ready”
Many people avoid talking to a mortgage broker because they don’t feel ready to buy. They figure they’ll reach out once their finances are in order.
That’s backwards.
Talk to a broker when you want a plan
According to Joe Gonzalez: you don’t talk to a mortgage broker when you’re ready to buy. You talk to a mortgage broker when you’re ready to come up with a plan to buy.
A mortgage broker can help you:
- Understand where you stand today, including credit, income and debts
- Know what to pay down first, like student loans or a car loan
- Set a savings target for your down payment and closing costs
- Improve your credit score before you apply
- Create a realistic timeline to homeownership
Why it pays to start early
Starting the conversation early means:
- No surprises when you’re ready to buy
- Time to fix any issues on your credit report
- A clear goal to work toward
- A faster pre-approval when the time comes
Pricing right gets results
Joe also shares two recent sales that prove a point. One listing in St. Catharines sold in eight days. A building lot in Wainfleet, priced using a careful market analysis, got multiple offers and sold for exactly what the sellers hoped, even though some other agents thought it was overpriced. Good research and sellers who listen make all the difference.
Not sure what your next step is?
Reach out and we’ll get the ball rolling and connect you with a trusted mortgage broker.
Call 289-276-1716 or start your home search.
