Pre-Qualify for a Mortgage in 20 s
A Simple Mortgage Pre-Qualification You Will Love
Welcome to MortgagePal - Your Path to Homeownership - First time Home buyers guide
Are you ready to embark on the exciting journey of finding your dream home? At Mortgage Pal, we're here to make your homeownership dreams come true. We specialize in providing hassle-free mortgage solutions that fit your unique needs.
Your First Step: Easy Pre-Approval
Before you start house hunting, it's essential to know your budget and be ready to act swiftly when you find the perfect place. MortgagePal offers a straightforward pre-approval process that gives you a clear picture of the mortgage amount you can comfortably afford. This is your first step towards homeownership success.
Already on the Hunt? Let's Secure Your Dream
If you've already found the property that makes your heart race, don't hesitate! Apply with MortgagePal , and we'll expedite the process by providing you with a pre-approval and a rate lock. You'll have peace of mind knowing your rate is secure while you continue your search for the perfect home or vacation property.
Why Choose MortgagePal ?
We're not your typical mortgage provider; we put YOU first. Here's why you'll love working with us:
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Savings and Stress Reduction: Our mission is to help you save both money and stress throughout your homebuying journey.
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Speed Matters: We understand that time is of the essence. Our extensive network of lenders, including our in-house lender THINK Financial, ensures we find the most flexible mortgage rates and products for you.
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Rate Lock Guarantee: We'll secure your best rate for up to 120 days, shielding you from sudden rate increases as you search for your dream property.
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Savings Add Up: Use our Compare & Save calculator to see the potential savings we can offer you. On average, our clients save over $3,000 over the life of their mortgages.
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Personalized Solutions: Beyond competitive rates, we tailor your mortgage to your unique situation and goals, saving you even more money and stress in the long run.
Navigating Full Mortgage Approval
When you're ready to make your homeownership dream a reality, MortgagePal will guide you through the full mortgage approval process. We simplify the complexities, offering a stress-free experience and ensuring you understand every detail along the way.
Here are the seven factors lenders consider when qualifying you for a mortgage loan:
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Down Payment Size: The size of your down payment plays a crucial role in your mortgage approval.MortgagePal will help you understand the down payment requirements based on your chosen property.
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Income Assessment: We'll work with you to assess how much of your total income should go towards housing expenses, ensuring your mortgage fits comfortably within your budget.
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Debt Evaluation: MortgagePal uses Gross Debt Service (GDS) and Total Debt Service (TDS) ratios to determine your ability to manage mortgage payments along with other debts.
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Employment History: While steady employment is a plus, we understand that life can be dynamic. We'll work with you to present your employment history in the best light possible.
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Credit History: Good credit is essential for mortgage qualification. If you're unsure about your credit score, we can guide you on how to obtain and improve it.
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Property Appraisal: Mortgage Pal ensures the property you're buying is worth the price, safeguarding your investment.
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Identity Verification: Your safety is our priority. We'll request photo identification to prevent identity theft or fraudulent activity.
Your Journey Begins Here
At MortgagePal , our goal is to make your journey to homeownership a smooth and enjoyable experience. Get peace of mind with our pre-approval process, and no matter where you are in Canada, our mortgage experts are here to answer your questions.
Let MortgagePal be your trusted partner on the path to homeownership.