Home Purchase

Buying a house is a big purchase. There are many mortgage options to choose from. We want you to learn about them before you buy the house.

Banks are now making it easier than ever to buy a new home.

Affordable Loans.

More people can afford homes because there are more types of loans. The interest-only loan, self-employment program, rental purchase program and other programs that banks have made all help people buy a home.

Whether you are a first-time buyer or an experienced buyer with excellent credit, Taylor Mortgages Inc. has access to the very best products and rates available across Canada. Let’s get in touch. We think you’ll be pleasantly surprised!

Pre-approval Process.

If you are looking for a new home, be sure you are pre-approved. With a mortgage pre-approval, a licensed mortgage professional can do a more complete verification prior to sending you shopping for a home, and with that done, the dollar figure you are going shopping with is actually what you can spend.

A mortgage professional helps you get approved to buy your home. They give you an idea of how much you can afford and what the potential payments will be.

Taylor Mortgages can lock in an interest rate for you for anywhere from 60 – 120 days while you shop for your perfect home. By locking in an interest rate, you are guaranteed to get a mortgage for at least that rate or better. If interest rates drop, your locked-in rate will drop as well. However, if the interest rates go up, your locked-in interest rate will not, ensuring you get the best rate throughout the mortgage pre-approval process.

In order to get pre-approved for a mortgage, a mortgage professional requires a short list of information that will allow them to determine your buying power.

A mortgage professional at Taylor Mortgages will explain to you the benefits of shorter or longer mortgage terms, the latest programs available, which mortgage products they believe will most likely meet your needs the best, plus they will review all of the other costs involved with purchasing a home.

Getting pre-approved for a mortgage is something every potential home buyer should do before going shopping for a new home. A pre-approval will give you the confidence of knowing that financing is available, and it can put you in a very positive negotiation position against other home buyers who aren’t pre-approved.

  What you should know

  before buying a home

Fixed-Rate Vs. Variable Rate

Some people choose to have a fixed rate. Others might want to have a variable rate. It depends on how much risk you are willing to take and your ability to afford an increase in mortgage payments.

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Understanding Your Credit Report

As more and more people have access to credit, your credit rating has become extremely important when it comes to purchasing a home. You can find out more about how credit reports work here.

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Determine the Right Term

Choosing a mortgage can be hard. You have to find the right one for you. It can depend on how much money you have saved up, and if your family needs a bigger house in the future.

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Pay Off Your Mortgage Faster

In Canada, most mortgages are fixed for a period of 25 to 35 years. It might seem like a long time, but people can pay off their mortgage if they choose to do so in a shorter period of time.