uying a home is a big investment–likely your biggest. You want your home to be everything you’ve dreamed of–cozy, comfortable, homey, and, most importantly, affordable.

Lisa Johnson Mortgage Services in Prince George is here to help. Finding your dream home can be the easiest part. Financing your dream home can be complicated. Below, we’ll explain the steps to obtaining a mortgage, so you can be that much closer to the home of your dreams!

TIPS TO FINDING A MORTGAGE

1. Find a reputable mortgage broker. Mortgage brokers are liaisons between the buyer of a home and the financial institution (often a bank or mortgage service company) who will underwrite or finance the loan. He or she gathers all the data from the homebuyer that the lending institution needs in order to finance the home. The advantage of a mortgage broker over going to the lending institution itself is that the mortgage broker has access to multiple lenders and is thus able to obtain the best mortgage terms for the homebuyer. Lisa Johnson works diligently and tirelessly on behalf of all of her homebuyer clients to obtain the best mortgage product for them.
2. Determine the price range of your home. One of the first tasks of mortgage brokers such as Lisa Johnson is determining how much home you can afford. Once this number is obtained, Lisa Johnson will recommend the optimal home price range you want to be based on your unique situation. Lenders generally recommend buying a home three to five times of the buyer’s annual income with the standard 20% down. Of course, individual situations vary, and the best mortgage brokers such as Lisa Johnson Mortgage Services in Prince George tailor their recommendations to you.
3. Get prequalified and/or preapproved for a mortgage loan. Again, every home buyer and his or her situation is unique and what fits one person probably doesn’t fit another. Lisa Johnson will ask for some financial information for you such as annual income, other debt you may have, and amount of savings you have and how much you intend to use as a down payment. This step often goes hand-in-hand with Step 2 above. The prequalification process step, however, will give you exact numbers instead of a general idea of a price range, which can be helpful if the house you want to buy is on the bubble of affordability.
4. Get approved. Once you make an offer on a home and it is accepted and you are under contract, the real work begins. Lisa Johnson Mortgage Brokers in Prince George will find you the lowest mortgage rate and the best terms available. For example, one bank may have the lowest rate but has higher closing costs. Another bank has very low closing costs but a high interest rate. Lisa Johnson will compare all of these competing packages and help you decide what best fits your situation.

In Prince George, Lisa Johnson Mortgage Services will be your ultimate guide to finding a mortgage. She has decades of experience helping homeowners obtain a mortgage. Lisa Johnson understands the complexities of buying a home and desires to make the process of buying a home as smooth as possible.

If you’re looking to buy a home and need a mortgage in the Prince George area, contact Lisa Johnson Mortgage Services today!