At City Centre Mortgages, we’re eager to guide you in searching for the best mortgage. Our commitment to putting clients first has made us a trusted partner for everyone, from new buyers to seasoned investors.
Saskatchewan Mortgage Requirements 2024
We want the mortgage process to be as smooth as possible for you, and that starts with knowing what it takes to get one!
Let’s discuss the essential factors:
Full-Time Employment and Proof of Income
Lenders typically require borrowers to have a stable source of income. This means you should have full-time employment or a steady source of income.
This could be:
- Self-employment
- Rental income
- Investments
Be prepared to provide documentation (like pay stubs or tax returns) as proof of income.
Good Credit Rating
Your credit score plays a pretty big role in mortgage approval. A good credit rating demonstrates your ability to manage your financial obligations responsibly.
Learn more about how credit scores affect mortgage rates in this post.
Verifiable Down Payment
In most cases, you’ll need to provide a down payment when purchasing a home. This down payment should be from your savings and should be verifiable. Lenders want to ensure you have a financial stake in the property. Saving diligently and documenting the source of your down payment is essential.
Online Approval of Your Application
At City Centre Mortgages, we’ve made the mortgage application process as convenient as possible. Our online application system allows you to apply from the comfort of your home. You can submit your documents and information at your own pace! Then, our team of experts will review your application promptly.
Now that you know these essential Saskatchewan mortgage requirements, it’s time to take the next step toward your dream home. At City Centre Mortgages, we specialize in finding the best mortgage product and rate to suit your unique needs. Our team speaks English, Cantonese, Punjabi, Hindi, and Urdu, ensuring language is not a barrier to your homeownership journey.
Contact us today or apply online!