Three simple steps to take before you apply for your mortgage:

It seems like everybody states that applying for a mortgage is very simple. After all, somebody takes your application; sends to get approved and you either are approved or declined.

If it is that simple, why do so many people have so many questions? That is why. we at Centum we want  to help you understand the application process and how to make it easier for you to be approved.

 Our three simple steps come with explanations, but if you have any further questions, contact us. by email 
Or call toll Free 1.866.380.4413

First step: have the following information ready when you see a mortgage broker:

˜       ID: we need picture identification so we know who you are. We also use this ID to protect you and prevent fraud applications.

˜       Your Income: if you are employed, than we would need pay stubs, a letter(s) of employment (the letter needs to have the start date of employment, how much you get paid and if you are full time or part time). If you work a lot of over time, bring your notice of assessments (NOA) for the last two years.

˜       Self-employed: additional information is required, such as notice of assessments, T1 generals, confirmation of self –employment (either by GST returns, business licences or corporation papers)

˜       Divorce papers: needed if you are divorced. If you are not then bring your spouse

˜       Bankrupt? Bring bankruptcy papers, including the discharge papers

Second Step: True and Proper Information

When you visit us about your mortgage needs, make sure you are giving us all the proper information in order for us to get the full story. 

While your credit history has to be respectable in order for you to get a mortgage, slow payment on credit cards or just poor credit may be able to be explained if we know what happened.

It has also been our experience that letting lenders know ahead of time what happened on a certain credit cards goes a long way in getting your mortgage approved.  Remember that all conversation you have with your mortgage broker is confidential, and we keep our word. 

We work with the information we have and present it to the lender in the best possible light, so not only will it increase your chance of being approved, but also we want lender to want you. If they want you, they will offer their best rate.

Third step: Take advantage of technology and do not be afraid to ask questions

There is a lot of information available to you, from the internet to your friends and family. While everybody has good intentions, he or she may have the wrong information that is why asking questions on things that you have heard, need to be askedis importan. After all, this is an important decision; so make sure you get every question answered to your satisfaction.

There are many ways to apply for a mortgage: apply through the Internet, over the phone, or in person. Pick the one you feel most comfortable with and go from there.  The Most important thing to remember, there are no such thing as stupid questions and if the person who is helping you get a mortgage  is requesting a finder fee up front! I would recommend to walk away from that person, because they are not looking after you, they are looking after themselves.

One last thing, we at Centum believe that we are the best in the industry, we have full time individuals that work on mortgages everyday.  We have properly seen every kind of mortgage scenario and we have given expert advice for over 15 years.  We are mortgage brokers and we work hard for our clients, even if a mortage at the time you apply is not possible, we will give you the tools to make sure that in the near future you can qualify for a mortgage and get into a new home.

To find more about Centum Professional Mortgage Group Inc. Click here