Your Trusted Mortgage Advisors Blog

Your Trusted Mortgage Advisors

5 ways to improve mortgage qualifying success

Yes new mortgage rules have made it harder to qualify for a mortgage, whether you are a first-time buyer or looking to renew or refinance your mortgage with a new lender. That’s why you should get yourself mortgage ready well in advance. Here are 5 tips to help you do just that:

  1. Get your Credit Report. Getting a copy of your credit report will let you know how you will be viewed by lenders. You can order yours for free through the mail or for a small fee online at www.equifax.ca as well as www.transunion.ca If you spot a problem, call us for assistance to resolve the issue.
  2. Polish your Credit.You can boost your score by several points fairly quickly with continual good credit habits. Most importantly, pay your bills on time, every time. Don’t let your credit accounts exceed 50% of the credit available. Before you cancel any credit cards, get advice. And don’t apply for a store card just to save on your purchase that day. Make a habit of checking your credit score each year, and watch how those good credit habits push your credit score skywards!
  3. Cash is King. Plan to go into homeownership with the maximum downpayment possible. If you are in the "saving up" stage of preparing for homeownership, now is the time to meet. There are several downpayment savings strategies available that we can put to work for you.
  4. Get a boost from Family. Parents and grandparents have enjoyed the personal and financial benefits of home ownership themselves, and see how hard it is today to make that important first step into the market. Check to see if they are willing to help by gifting or loaning some or all of the downpayment, or by helping you with other debts.We can help you be fully prepared to get you where you want to go, and to make sure you can take advantage of any opportunities that come your way.
  5. Start a Dialogue early. Get in touch early to talk about your purchase, refinance or renewal plans. We can help you be fully prepared to get you where you want to go, and to make sure you can take advantage of any opportunities that come your way.

Also remember,history has proven that it is almost impossible to perfectly time the market.Home ownership has proven to be a very solid investment over the long term, so focus on buying a home when you are financially ready and when it fits your lifestyle.

Troy Resvick, MBI

Managing Partner / Senior Mortgage Advisor

Invis - Resvick & Associates Mortgage Advisors

T: 604.532.8769 ext. 1

4 Reasons to Hire a Real Estate Agent When Selling Your Home
December 12, 2019 @ 12:21 AM by: Resvick & Associates

Selling your home is a big decision, and it's often a long and complex undertaking. Hiring a real estate agent can make every step of the home-selling process easier, from setting an asking price to closing the sale. Here are four benefits of hiring a real estate agent to sell your home.

Pricing Expertise

Many homeowners have an idea of what their houses are worth, but their ideas are often not realistic. Their perspective may be based on emotion and sentimental value, rather than what the housing market will bear. Conversely, some homeowners undervalue their homes and ask for much less than the home is really worth.

An experienced real estate agent is an expert on the home prices in your local market. An agent will suggest an asking price based on a Comparative Market Analysis. A market analysis examines supply and demand in the area, along with the price and condition of similar properties. A market analysis ensures your home will be priced in order to sell as quickly as possible for the highest amount of money. By working with an agent, you'll arrive at an unbiased and accurate sale price for your home.

Access to Multiple Listing Service

Real estate agents are able to list your home on the Multiple Listing Service (MLS), greatly increasing its exposure. When your home is listed on the MLS, it will be seen by potential buyers and by buyers' agents. You have a good chance of finding a buyer quickly. Access to the MLS is one of the best benefits of hiring a real estate agent to sell your home.

Negotiation

The best real estate agents are skilled negotiators. Selling a home has several potential pitfalls, including repairs, inspections, and financing. If any questions arise, your agent will negotiate on your behalf to resolve the issues. If you receive multiple offers for your home, your agent will help you weigh the pros and cons of each one, ensuring you make the best decision.

Paperwork

Selling a home comes with a great deal of paperwork. Purchase agreements alone can be ten pages or longer.* Your real estate agent will read all of the fine print and will handle the necessary paperwork for you. He or she will draft your sales agreement, prepare the closing documents, and ensure you comply with all legal requirements.

The help a real estate agent provides during the selling process can be invaluable. The right agent will ensure you get a fair price and will make selling your home as easy as possible. 

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