Buying Your Next Home

Mortgage Pal Speeds You Ahead

Buying Your Next Home?

In your fast-paced life, you crave speed and efficiency, especially when it comes to securing your next mortgage. Your next home purchase is unique, and MortgagePal is here to provide you with the knowledge and support you need to save time and money—quickly.

Streamlining Your Next Home Purchase

Whether you're moving up, relocating, or expanding your real estate portfolio, buying your next home is an exciting endeavor where timing is crucial. As you navigate mortgages and make pivotal decisions, securing a better rate and choosing the right mortgage product are paramount for saving money and developing a solid financial strategy.

At MortgagePal, I understand the need for prompt, professional assistance throughout this process.

Key Considerations for Your Next Home Purchase

When you already have a mortgage on your primary residence, your next home purchase involves several factors:

Renting or Selling: Will you retain your existing home as a rental property or sell it to finance your new one?
Timing: Will you sell your current home before finding your next one, or vice versa?
Equity Utilization: Do you plan to use the equity from your current home toward your new purchase?
Down Payment Source: Where will your down payment come from this time?

MortgagePal understands that every situation is unique, and we're here to help you navigate these scenarios, ensuring you develop the best mortgage strategy for your next home.

The 5 Vital Steps for Your Next Home Purchase

When you're ready to make your next move, MortgagePal offers a streamlined process to simplify your journey:

Consultation: Contact us as soon as you begin considering your next move. We'll answer your questions in your preferred language, explore your down payment options, discuss pre-payment penalties, and address possible closing costs and bridge financing.
Pre-Approval: Get pre-approved for your mortgage amount swiftly. This pre-approval empowers you to find a home that suits your budget and secure your best rate for up to 120 days.
House Hunting: Begin your home search with confidence.
Mortgage Approval: Return with your conditional offer details to your MortgagePal broker. They will finalize your full mortgage approval, securing the best possible rate, and outlining your closing costs.
Closing: Once you have full mortgage approval, MortgagePal remains by your side, managing paperwork in coordination with your real estate agent and solicitor.

Real Estate Agent Referral

Should you need a real estate agent, MortgagePal can provide referrals based on our trusted, longstanding relationships in the industry.

Mortgage Approval Turnaround

We pride ourselves on our in-depth knowledge of mortgages, allowing us to work quickly and efficiently. While every situation is unique, we handle any questions or necessary steps promptly, ensuring the process aligns with your timeline.

But don't just take our word for it—explore our 5-star reviews from our satisfied clients who have experienced our efficient service firsthand.

Differences in Down Payments

Compared to your first-time mortgage, your down payment may differ significantly when purchasing your next home. Depending on your situation, you may use equity from your existing home or the proceeds from its sale to provide a more substantial down payment for your new property.

Alternatively, you may need to consider other sources for your down payment, such as personal savings or a monetary gift. Keep in mind that any down payment under 20% will require mortgage default insurance, and we will provide information on the premiums involved.

Savings with MortgagePal

MortgagePal is dedicated to securing the best rate for your unique situation, typically offering rates that are 0.20% lower on average compared to competitors. Our volume discount and access to numerous lenders have enabled our clients to save an average of over $3,000, and in some cases, up to $15,000, depending on individual circumstances.

Explore a Wide Range of Mortgage Options

Unlike traditional banks, MortgagePal has access to thousands of mortgage products, ensuring you find the perfect fit for your needs. No longer constrained by your bank's offerings or ultra-restrictive online rate mortgages, you can enjoy flexibility and better rates, ultimately saving you money and stress over the life of your mortgage.

Additionally, we offer cash-back options on both variable and fixed-rate mortgages. Learn more about this option or reach out to us for details.

Experience a Smooth Mortgage Process with MortgagePal

At MortgagePal , mortgages are our passion, and we excel at making the complex mortgage process easy, simple, and efficient. Unlike banks, mortgages are all we do, and we're dedicated to helping clients secure the ideal mortgage fit.

Our team is ready to assist you from anywhere in Canada—whether you prefer to connect online, over the phone or in person.

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Buying Your Next Home