Real Estate

The Home Buying Process For Noobs A-Z.

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  • Sep 2nd, 2015 12:05 am
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[OP]
Deal Addict
Jan 20, 2014
2541 posts
603 upvotes
Ottawa

The Home Buying Process For Noobs A-Z.

Alright so I've decided to purchase a town home in the Kitchener-Waterloo area in order to be closer to work.

I got pre approved a couple years ago and was sent periodic rates until I began sending them to my junk mail.

I would like to start looking now...in hopes to buy mid 2016. Here are a few questions:

What should I do first, get pre-approved again or start looking at homes on MLS in order to see some places?

Should I make a note of all the places I'm interested in and look at them one by one or should I get a realtor; how do you choose a realtor?

Do mortgage houses and realtors work in tandem?

Who are some popular realtors that would assist me in viewing homes?

Is Butler really the best for a mortgage?

?

Thanks in advance, i welcome ALL questions.
3 replies
Penalty Box
Dec 27, 2013
8003 posts
3988 upvotes
Toronto
go to the bank and talk to some one experienced in mortgages.. they will give you all the info you need.

your questions are so basic and have been answeredso many times on these forums.
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Oct 8, 2014
1015 posts
227 upvotes
Unionville, ON
AtlsNBP wrote: What should I do first, get pre-approved again or start looking at homes on MLS in order to see some places?
Definitely get pre-approved again however there is nothing stopping you from looking on the MLS website first, that way when you go see the mortgage broker or bank at least you will have an idea of how much you will have to spend.
Should I make a note of all the places I'm interested in and look at them one by one or should I get a realtor; how do you choose a realtor?
Get a realtor, he will have access to listings before they are even on MLS. When you see a listing you like, tell him you want to see it. Your realtor and the seller's realtor will split the commission. Choose a realtor by asking for recommendations from your friends and coworkers in KW.
Do mortgage houses and realtors work in tandem?
Most mortgage brokers know a few realtors who they will be more than happy to recommend to you, and most realtors know some mortgage brokers they will recommend. Personally I would prefer to choose my own.
Is Butler really the best for a mortgage?
No. Go to a mortgage broker and they will have access to many lenders.
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Deal Addict
Jul 11, 2010
1159 posts
229 upvotes
Toronto
OilyBob wrote: Definitely get pre-approved again however there is nothing stopping you from looking on the MLS website first, that way when you go see the mortgage broker or bank at least you will have an idea of how much you will have to spend.


Get a realtor, he will have access to listings before they are even on MLS. When you see a listing you like, tell him you want to see it. Your realtor and the seller's realtor will split the commission. Choose a realtor by asking for recommendations from your friends and coworkers in KW.


Most mortgage brokers know a few realtors who they will be more than happy to recommend to you, and most realtors know some mortgage brokers they will recommend. Personally I would prefer to choose my own.


No. Go to a mortgage broker and they will have access to many lenders.
If you are planning on buying in mid-2016 it is too early to fix a rate. 60 or 90 days out from closing you will be able to lock in a rate.

FYI: Butler is a mortgage brokerage, not a lender.
Doug Boswell
intelliMortgage Inc. Brokerage #12326
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