If you’re an aspiring homeowner, then you probably understand how challenging it is to qualify for a mortgage. Many lenders have introduced stringent measures in an effort to cushion themselves from the economic uncertainty brought about by the pandemic. Despite interest rates being at a record low, borrowers are still struggling to get their mortgages approved.
However, there are several tips you can follow to get your mortgage application approved without too much hassle. For starters, you need to find a quality lender, who you will feel comfortable with leaving the process in their hands. In fact, for our Canadian readers, you can get remarkably affordable mortgages from Altrua. Regardless, whether you’d like to get a second mortgage, lower your rate or simply recalculate payments, there are many lenders in your area where you can go to find a good rate.
So, what do you look for when choosing a mortgage lender? These five areas stand out above all others: