Finding out how much you can borrow, should be the first place you should start. You should obtain a pre approval from a mortgage broker or a bank. This basically lets you know how much you could borrow theoretically, so that you are aware of your budget. A pre approval can be valid for a few months, so you don’t have to rush in and buy a house just because you have one. And best of all this doesn’t cost anything.
There are many loan calculators online to give you a quick but rough idea of how much you can borrow. But by obtaining a pre-approval, you can reveal any possible complications early on. |
