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Why Is Spring Known as Mortgage Season?

Are you one of the many people who hear the phrase “spring is mortgage season”? Have you often asked yourself why?

Traditionally, the period between September and November is the busiest time of the year for real estate agents and finance/mortgage brokers. As this is the time of year when many people:

1. Considering the real estate purchase and sale; and

2. I’m thinking of getting a housing loan.

Also, spring is the time of year when houses look their best and people are happier attending open inspections and auctions.

Start Planning

Before you start looking for your dream home, you should start planning by taking the following steps:

Step 1- Presentation

First impressions are always important to the buyer, so it’s important to make sure your property looks its best from the moment it goes on sale. This means ensuring that both the interior and exterior design are as stylish and attractive as possible.

Step 2 – Perform a Financial Check

Just as you would have a regular medical checkup for your health, you should also consider having a checkup for your finances. Because doing a financial health check will tell you if your finances are:

>> Need attention;

>> Under control; or

>> Could have been better.

A financial health check will help you take control of your finances. So why not get started right away by using a Budget Planner Calculator to calculate what you’re spending your money on.

Step 3 – Calculate How Much You Can Borrow

Make your totals using the Borrowing Power Calculator to calculate:

>> How much can you borrow? and

>> What refund amount can you afford?

Step 4 – Get Pre-Approval of Your Home Loan


By getting your home loan pre-approved, you will have the comfort of knowing that your loan has already been evaluated by a qualified finance/mortgage broker. Also, you will have the upper hand in bargaining with the seller (seller) and/or real estate agent for the purchase of the property.

Step 5 – Choosing a Suitable Home Loan

After determining your budget, it’s time to choose a home loan. It is important to pay attention to the following when choosing a housing loan:

>> Features you need from your loan; and

>> The cost of the loan in terms of fees.

To help you choose your home loan, you should ask different lenders/lenders for a copy of their “Basic Information” page. It will give you the information you need and will also give you the ratio of the total costs of a home loan to other home loans.

Note : Lenders/lenders must provide you with a Basics document for a home loan if you wish (but not for interest-only loans or line of credit loans).

Step 6 – Selecting a Proper Licensed Realtor

You should consider appointing an appropriate licensed real estate agent who:

>> It will help you when selling your house;

>> It will help you in your real estate search while buying real estate;

>> Have a good knowledge of the demographics of your local area;

>> Have a good knowledge of comparable sales in your location or region you are looking at;

>> New advertisements will warn you before they reach the media; and

>> Will be able to make additional recommendations.

Step 7 – Documentation

As a minimum, you will need to submit documents that can prove your income, such as a payslip.

Selling your current home and buying a new one can be overwhelming for many. However, you can ensure a stress-free and happy home buying process by using the services of a qualified finance/mortgage broker. It will provide expert assistance every step of the way and ensure you get the best mortgage deal.


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