17 June 2011

Here are some other interesting facts from the report:
•    Only 72% of first-time buyers spoke to a mortgage consultant before buying a house. In 2010 it was 84%.
•    Half of respondents don’t plan to compromise on price when buying a home.
•    33% bought or plan to buy a house with a rental unit. 71% of them will use this income to pay off their mortgage faster.
Such results bring us to quite an interesting conclusion: with today’s Internet technologies and plenty of different on-line calculators and qualification methods some potential mortgage borrowers may think they are well prepared to it without even consulting a mortgage professional. But as the experience shows, an hour consultation with a mortgage broker (which, by the way, will cost you nothing) will help you evaluate your chances and save thousands of dollars in the future. Usually, buying a house is the largest financial decision in your life, so it’s better to be sure you’ve done everything right.