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Looking for a way to Purchase a Mortgage in BC? Step by Step, we will help!

At LoanBox.ca, we make dreams of home ownership a reality every single day.  This is what we do!  Whether you’re buying your first home, second home or investment property, let us help you by making the entire purchasing process as seamless as possible.  We are Mortgage Experts, we shop the entire mortgage broker marketplace in Canada to find the best mortgage solutions for our valuable clients.

So, you would like to buy a home in British Columbia. Now, where do we start looking to purchase a mortgage in BC?

1.  The very first step will be to determine if home ownership is right for you.  Buying a home will be the biggest financial investment most people will make and almost certainly require you to purchase a mortgage in BC. There are lots of determining factors involved in this decision. Things to think about will be affordability, down payment, location, type of home, total costs etc.

2.  The next step will be to speak to Ajit Hundal, Personal Mortgage Consultant to get pre-qualified for a mortgage, unless you plan to pay the full amount in cash, then this won’t be necessary of course.  To get pre-qualified, Ajit will ask you about your downpayment, income, credit and type of property you are hoping to buy.  Once the discussion is complete, you will have a good idea of what you can afford.

3. Hiring Professionals to help you with the home buying process – Once you have been pre-approved, you will need a realtor who specializes in the neighborhood where you are looking to purchase that dream home.  A specialist in the area will be able to tell you about the location, average price per square foot and should really know the community in and out. You will also need a Home Inspector to inspect the property that you will decide to put an offer on and also a Lawyer or Notary Public to assist you with the legal transfer documents.

4. Now that you’ve built your Real Estate / Mortgage/ Inspection / Legal team, you can start shopping!  Once you have found the property that is most suitable for you, you will work with your Realtor to put in an offer.  The first offer may or may not get accepted however, this is usually the starting point of the negotiation process.  Once the offer has been accepted by both buyer and seller, the conditions or subjects are in place to be removed prior to the subject removal date.  These subjects can include, subject to financing, subject to satisfactory home inspection, subject to receiving property disclosure statement etc.  Once the subjects are removed by the buyer, a full legal binding contract is in place between the buyer and seller.  The final step in the purchase process would be visiting the Lawyer or Notary’s office a couple of days prior to the completion date to sign the final transfer documents.  On the completion date, after the transfer of ownership is transferred – you become the official owner!

With mortgage financing, there are many different financing options for each borrower.  We offer Variable Rate Mortgages, Fixed Mortgages, Home Equity Lines of Credits, etc.  The best way to determine which mortgage option is best for you is to contact our Personal Mortgage Consultant, Ajit Hundal at 604-614-6899 and he will assist you with finding the best mortgage solution.

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Call or Apply Now for a Free No-Obligation Mortgage Consultation or, check out what our valuable clients are saying about our services in our testimonials section. Join the club!