{"id":1496,"date":"2021-11-12T17:18:45","date_gmt":"2021-11-12T17:18:45","guid":{"rendered":"https:\/\/myprivatelender.com\/?p=1496"},"modified":"2023-07-06T05:34:11","modified_gmt":"2023-07-06T05:34:11","slug":"mortgages-from-alternative-lenders","status":"publish","type":"post","link":"https:\/\/myprivatelender.com\/2021\/11\/12\/mortgages-from-alternative-lenders\/","title":{"rendered":"Mortgage lenders!"},"content":{"rendered":"
No matter where you get a mortgage, you should aim for at least a 680 credit score for at least one borrower (or guarantor), especially if you put less than 20% down. A score of 680 is not necessary if you can make a 20% or larger down payment.<\/p>\n
Both cash flow and sale price should be considered in a budget. You can’t have fun in a house with no money. You may have a different budget for your home than your cash flow budget. In addition to helping you determine your price range and finding an affordable home, a budget can also help you to see any savings gaps or opportunities. When it comes to managing your mortgage, this becomes very important.<\/p>\n
A 20% down payment is ideal for buying a home. This may not be possible in today’s market. If you are purchasing a home with a down payment less than 20%, you MUST have default insurance! (CMHC etc)<\/p>\n