Before starting your house hunt, make an appointment with a mortgage professional to get the loan pre-approval in place. This way you’ll know what your purchasing power is.
It's a good idea to carefully craft your wish list and try to stick to it. If you’re shopping with your partner, discuss your must-haves and deal breakers together so you’ll be on the same page during your house hunt.
Remember you are not only buying a house, but the neighborhood too. Talk to neighbors and ask questions. Spend time in the area to determine if it offers the lifestyle conveniences you’ll need.
Don’t see too many houses in one day. You may begin to feel overwhelmed and confused after touring several homes. Too many homes in a short period of time will run together in your mind and you won’t recall which kitchen or which master bedroom belonged to which house.
Stay within your price range and consider added expenses such as taxes, strata fees, maintenance, etc.
Thou shalt not change jobs, become self-employed or quit your job.
Thou shalt not buy a car, truck or van (or you may be living in it!)
Thou shalt not use credit cards excessively or let current accounts fall behind.
Thou shalt not spend money you have set aside for closing.
Thou shalt not omit debts or liabilities from your loan application.
Thou shalt not buy furniture on credit.
Thou shalt not originate any inquiries into your credit.
Thou shalt not make large deposits without checking with your loan officer.
