When shopping for a home, it is important to be prepared for all stages of the buying process. Though this may seem difficult, most major issues in residential real estate financing come with being uninformed on what it means to be mortgage ready.
At Blink we wholeheartedly believe that getting mortgage ready is the solution to the woes of an industry wrapped in outdated practices. Being mortgage ready means that your income, debts, credit score, and down payment, have been verified by our mortgage experts through document submission, freeing you up to buy your home with the confidence.
Pre-approval is a very loose term in the mortgage brokerage industry and only means as much as what the institution offers you in their particular pre-approval program. Though banks and traditional mortgage brokers do offer pre-approvals, very often the total that borrowers qualify for is not verified and result in not being able to purchase the property you have chosen, despite gaining said pre-qualification.
By verifying all your qualifications with Blink Mortgage, you are able to shop with confidence as the approval we issue is backed by all the documentation you have submitted assuring the value we quote is in fact the amount you are able to borrow when purchasing your home.
The purpose of the Get Mortgage Ready program is to ensure buyers become confident when shopping for a home and to totally eliminate surprises, like not actually qualifying for the quoted rate, thus wasting borrowers’ and lenders' time.
Start with Step 1 of the Blink Mortgage process by playing with our easy to use mortgage calculator to get an idea of how much you qualify for. Once you have an idea of what you qualify for, please fill out our fast, online application to become mortgage ready before you shop for a home.
This question makes an excellent point and we understand that securing a favourable interest rate makes or breaks a mortgage for the borrower. On the surface interest rates seems like the most important part of a loan, however in reality this is simply one aspect of what makes a particular mortgage favourable.
Banks use low interest rates to distract borrowers from unfavourable terms and conditions that lead to extreme fees and breakage penalties throughout the term of the loan.
At Blink Mortgage we aim to educate borrowers on all the different options they can choose when looking for a mortgage. We built a tool that allows mortgage ready borrowers compare multiple offers from a multitude of lenders, including banks and monoline (broker only) lenders to help you choose the mortgage option that best suits your lifestyle.
Check out a sample report here. Once you complete your application we will send you your own personalized report allowing you to compare your offers, simplifying the rate shopping process and showcasing all the detailed terms and conditions in an easy to read format.