A checklist of all the things you'll need to be approved for a mortgage
Buying a new home is exciting, but costly. Unless you are planning to buy your new home with cash, you will need to secure a mortgage to pay for it. We’ve created a checklist of all the things you’ll need to to do so!
First of all, what is a mortgage?
Mortgages are loans given by a bank or lender that help you finance the purchase of your home.
In exchange for your mortgage, the bank or lender takes the title of the property as collateral until the mortgage is repaid. Mortgages are usually paid on a monthly basis, with payments made up of principal, interest, taxes, and insurance.
You must consider which type of mortgage you would like to obtain. There are many…