Dominion Lending Centers, The Mortgage Source

Phone: Office - 613-225-1643

Cell: Andrew - 613-324-1643

Cell: Ed - 613-314-0779

email:

10 / Steps
to buying a home / 10 / Things
to consider before
your mortgage renews
1Determine how much you can afford. We can help you determine how much you can afford to pay every month and the price range that works within your budget.
2Team up with a real estate agent. The best real estate agent will be a combination of
a personal advisor, consultant, and negotiator.
3Make an offer. This legal document
specifies the price, the closing date, and any conditions.
4Retain a lawyer. It’s important to hire a lawyer who specializes in real estate.
5Arrange the home inspection.
A professional inspection is a good way to uncover major problems with the home.
6Get the mortgage approved. We’ll
submit your application to the mortgage lender that we have selected.
7Get property insurance. You’ll need to purchase property insurance that protects your
home against fire and other damages.
8Check the legal details.
Your lawyer can now search the title and check whether there are any unpaid property taxes outstanding.
9Complete the paperwork. You’ll meet with your lawyerto review, sign, and get copies of all the documentation.
10Pick up the keys. Your lawyer will also register your new home in your name. / 1Have you explored all your options? We can
look for opportunities that could better meet your
needs right now.
2Are you comfortable with your payments?
Review comfortable repayment options.
3Do you need cash flow for other things?
Your priorities may have shifted since you first
bought your home.
4Can you handle fluctuating rates?
We can help you decide whether to opt for fixed or variable rates — and we don’t want you to lose
any sleep over your decision!
5Will you sell soon? Consider a shorter-term
mortgage or one that has flexible terms.
6Are you thinking about a major renovation?
Before you renew, look at all your financing
options.
7When do you want to be “mortgage-free”?
Planning extended time away from work or
perhaps an early retirement or mortgage-free lifestyle.
8Could you use your home equity to fulfill
other goals? Mortgage renewal time is an ideal occasion to review all your options.
9Have your insurance needs changed? Review
whether you need the same level of insurance in place to cover mortgage obligations.
10Are you getting the best rates andterms?
We analyze mortgage markets daily toensure you don’t miss any money-saving opportunities.