PRE ARRANGING YOUR MORTGAGE

From time to time, prospective home owners who have found their "Dream Home" are disappointed to learn that they do not qualify for the mortgage they require.  Therefore, when starting to look for a home, it's wise to visit your financial  institution.  Electing the terms and conditions of your  mortgage, you can receive pre-authorization of the maximum amount your financial institution will lend you subject to a formal credit approval and a satisfactory property appraisal.  You will generally receive a sixty day guarantee on the   interest rate protecting you against short term interest rate fluctuation.  If interest rates go up during that time, you'll pay the lower rate.  With a pre-arranged mortgage, you can shop and negotiate with confidence, already knowing just how much you are able to spend.