Buyers Guide: Mortgage Tools and Resources

The summer months are a time for many buyers in the market to maybe shelve the idea of buying and moving until at least the fall months. Moving during the back to school season can be daunting. Many choose to use their discretionary income for other things during the same like vacations or hobbies. Factor in losing the 2020 summer to COVID and the little bit of reopening that has occurred in 2021, the summer market shift is again in full swing. This can mean two things. One, if you are still looking for houses for sale in Windsor or the Greater Windsor Area and have the means and ability to make the move right now, you might be able to take advantage of the market and find a home right for you and even sneak a condition or two in. Conversely, if you were someone who backed off, you may now be contacting your Windsor REALTOR® looking to get back into the Windsor real estate market soon and find that Windsor home right for you.

Regardless of where you are at with a move, one thing is for sure, you’ll need to pay for your next home, and unless you hit the lottery, you’ll need a mortgage. While your REALTOR® can help you get in touch with lenders, you may want to do your own research and educate yourself with what you are getting into. A great place to start is with the tools and resources available to you through the Government of Canada. You can click through this link to find all sorts of information: https://www.canada.ca/en/financial-consumer-agency/services/mortgages.html.

It can help you understand topics such as the type of mortgage that is right for you, how to prepare to get a mortgage, getting pre-approved for a mortgage, what the terms and rates mean. They also have tools such as a mortgage calculator and a mortgage qualifier to see if you can qualify for a property of interest based on the cost and some basic financial information.

When it comes to buying a home, being over prepared doesn’t exist. The more knowledge and information you have the better. After all, this is most likely the biggest purchase of your life and something you’ll be paying for over decades. So learn as much as you can about mortgages in Windsor.

Here at Jump Realty our agents will give you honest advice on what course of action is best for you in their professional opinion and will always put taking care of your best interests first! With offices in Windsor, Tecumseh, Kingsville, and Chatham, no matter where you are, a Jump agent is ready to help. Please contact us for any housing needs and let us give you a better real estate experience!