I was reminded today that in our business days turn into months without even noticing it. I have a client that is seeking a refinance of a private mortgage and had expected to have everything completed at the beginning of September. It is now the middle of November and we will be getting our Deal Package out to lenders this week seeking a Term Sheet or Commitment Letter.
For those of us that work in this business we know things can take longer than expected but here are some things you can do to make sure you are prepared:
1. Know what questions you will be asked and have answers ready and researched
2. Get your documents together. There is nothing worse then searching for documents at the 11th hour. Have them ready to go before you begin.
3. Know your math. Spend the time figuring out your numbers. Either get help with this or get a piece of paper and a calculator and make sure you know that you can afford to do what you are applying for (spreadsheets work too!)
Use our online tool – www.mlenow.ca – to help you with the items listed above. You won’t be sorry you spent some time getting prepared for a mortgage or loan.
“At the center of your being you have the answer; you know who you are and you know what you want.” – Lao Tzu
Need to borrow money now or in the future?
Click here to get prepared for your next mortgage or loan.
