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Keep Your New Year Mortgage Resolution with a Broker

New Year Mortgage Penticton BC

Don’t let your new year mortgage plans become a footnote

Research shows that approximately 80% of Canadians abandon their New Year resolutions by February. It’s one thing when those goals involve laying off sugary sweets and hitting the gym more, but another when related to personal wealth. A recent survey found that for 2024, 67% of the population is making a financial resolution for the New Year, with homeownership among these plans for longtime renters. If you’re among them, how can you ensure that you don’t let this important goal fall to the wayside along with plans to cut back on extra-caramel macchiatos?

A mortgage broker is the key How? Let’s find out!

3 Ways a Mortgage Broker Will Help You Stick to Your Goal to Buy Your First Home in 2024

Will Reduce Your Downpayment Requirements

One of the biggest hurdles to keeping a resolution for a new year mortgage, is getting the required downpayment. If this is holding you back, you’ll be pleased to know that a mortgage broker will be of direct assistance. A broker will confirm your eligibility and help you apply for Canada’s First-Time Home Buyers Incentive. This program provides a 5-10% downpayment to help qualified first-time homebuyers buy a home. View more here, then connect to a local broker who will walk you through the entire process and will increase the odds of a successful application. Furthermore, brokers are deeply knowledgeable about other programs that can help you secure the required downpayment.

Will Reduce Your Mortgage Rates

Persistent news of high mortgage rates through 2023 may already have dampened your plans for a new year mortgage. Please understand that these high rates are somewhat of a perception versus reality. Yes, advertised variable and fixed rates have been as high as they have been over the recent decade. However, did you know that there are lower variable and fixed rates that are made available to a select number of BC residents? Even better news, is that you are already a part of this exclusive group because you’re reading this. By making the wise decision to work with a reputable mortgage broker, you gain access to the bulk discount rates they receive from Canada’s big banks and credit unions. These rates are nor marketed to the general public. And if for some reason (limited credit history, etc.) banks are not willing to offer a loan at these favorable rates to you, a broker can present you with another lucrative (for you) option. Alternative private lenders do not obsess over credit history alone, and can provide you with the same low rates, if not better. View more on private mortgages here.

Will Reduce Your Anxiety and Stress Over Buying a Home

Even with the peace of mind of a lower downpayment and mortgage rates, you may hold off on your plan for a new year mortgage due to the day to day responsibilities that get in the way of this major life decision. With so much going on at the onset of a new annum the anxiety and stress may cause procrastination. Remove this existing (or potential for) anxiety and stress by working with a mortgage broker. A broker’s job is to take on the mounds of paperwork along lender consultations and negotiations, and can even connect you to the right related service providers such as real estate insurance brokers, agents, and Realtors. Learn more about what a broker will do to alleviate your perceived burdens of buying a home by reaching out for a zero-commitment consultation.

Turn your resolution for a new year mortgage into a reality by partnering with a mortgage broker. If buying a home in the Okanagan Valley or anywhere in BC, get pre-approved and call 250.493.9111 for a friendly conversation about what Carloni Mortgage Brokers will do for you.

Ask About a Mortgage in the BC Okanagan Valley

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