Spring Forward: How To Prepare Your Finances For Home-Buying Season

🌸 Spring is one of the busiest seasons in real estate. If you’re planning to buy this spring, now is the time to prepare your finances for a smoother, stress-free mortgage process. Stay tuned for tomorrow’s Bank of Canada interest rate announcement, as it could impact borrowing costs.

✅ Check & Strengthen Your Credit Score
A higher credit score = better mortgage rates! Pay down outstanding debts, avoid new credit inquiries, and let me help preserve your score by pulling your credit report just once when shopping for options.

💰 Build Your Down Payment
The bigger your down payment, the better your loan terms. Automate savings, explore first-time homebuyer programs, and avoid moving money between accounts before applying.

📉 Lower Your Debt-to-Income Ratio (DTI)
Pay down high-interest debts and hold off on big purchases like car loans to boost your mortgage approval chances.

📄 Get Pre-Approved
A pre-approval gives you a clear budget and a competitive edge. Let’s discuss rates, term lengths, and special programs available to you.

💡 Budget for Hidden Costs
Factor in closing costs, property taxes, and emergency repairs to avoid surprises.

📊 Understand the Market
Track housing prices, stay updated on interest rates, and work with a trusted real estate agent to navigate bidding wars.

📉 Consider Locking in an Interest Rate
With variable rates dropping, it’s a great time to explore your options. Let’s chat about rate holds and securing the best deal for your situation.

💬 Thinking of buying this spring? Let’s connect! I’ll guide you through every step to make sure you’re mortgage-ready. Call me directly at 514-994-1030.