Did you know that you can pre-qualify for a mortgage on a pre sale condo? You can, and up to 3 years in advance.
There are a number of very compelling reasons why this is a good idea too. Firstly, you can lock in at today's rate, meaning that if rates increase, you benefit from the previously lower rate. And should rates go down, you can qualify at those lower rates now too.
Secondly, and possibly most importantly, the Bank Of Montreal will appraise your pre sale property at TODAYS valuation and should that move up or down by the time of completion, you can actually get money BACK on your purchase.
Find out how, and a few more pro tips, in the episode all about Pre Sale property financing with Mychal Ferreira.
Mychal Ferreira
BMO Mortgage Specialist
778.994.3222
mychal.ferreira@bmo.com
instagram.com/mychalmortgages
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Contact Us To Book Your Private Consultation:
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Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
ryan@thevancouverlife.com
