54036 NAT COR Digital Magazine Final - Flipbook - Page 28
FIRM MORTGAGE APPROVALS
WHY BUY NOW?
One of the significant advantages of securing a
mortgage now is the benefit of firm mortgage
approvals. As explained by Yip, RBC offers a
firm mortgage approval where the interest rate
is locked in, protecting you from future rate
fluctuations. This means that even if market rates
increase after your approval, your mortgage rate
remains unchanged, ensuring predictable and
manageable monthly payments.
The combination of predicted lower interest
rates, increased market activity, and the
benefits of firm mortgage approvals makes now
the best time to enter the real estate market.
As interest rates decrease, borrowing becomes
more affordable, attracting more buyers and
potentially driving up property values. Acting
now allows you to lock in a favorable rate and
secure a home before the market heats up
further.
For those investing in pre-construction
properties, securing a firm mortgage approval
offers another layer of financial security. If the
value of the property increases from the preconstruction phase to the closing date, the
approved mortgage rate will still apply. This
stability can result in significant savings and a
favorable investment outcome.
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NATIONAL HOMES DIGITAL MAGAZINE
With expert insights suggesting a favorable
shift in interest rates and the benefits of firm
mortgage approvals, now is an excellent time to
buy. Whether you are a first-time homebuyer or
looking to invest in a new property, the current
conditions offer a promising opportunity to
achieve your real estate goals.