First time home buyers

Why use Saran Mortgages?

You can go to every bank one at a time or you can go to them all at once with a mortgage agent at Saran Mortgages – one and done.
Apply online in minutes from the comfort of your home
Rates as low as you go!
Get unbiased expert advice with hundreds of options no single bank can provide
Secure a rate hold for up to 120 days
Fast we mean really fast service
Save a ton of time and money with our pre-negotiated rates and terms

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First Time Buyer Tips

Working with a broker is like having an expert in your back pocket, and there are is so much insight to be shared than any web page can offer. At Karan Mortgages, we pride ourselves on the support we offer to all our first-time homebuyers as they start on their journey. One of the best reasons to get pre-approved for a mortgage is that it gives you an advantage when you find a home you’re interested in. You’ll know exactly how much money you’ve got to work with, and can act quickly and confidently when it comes to making and negotiating an offer. If you don’t qualify for a pre-approved mortgage, your broker can still help you estimate a mortgage-qualifying amount that will help put you in the ballpark for finding your first home.

Stay within your means

Even if you qualify for a large mortgage loan, keep in mind that your monthly mortgage payments have to be manageable within your budget. If every penny of your income goes toward your mortgage, the shine of your new home can wear off very quickly.

Factor in extra costs

Home inspections, closing fees, and moving costs are just a few of the add-ons that pile up on top of the cost of your new home. Make sure you factor them in to your budget when you go to buy.

Try not to get emotionally attached

We know it’s hard at such an exciting time, but bidding wars and negotiations are just a part of the game. Try to go in with the mindset that there are plenty of houses out there and the right one will always come along no matter what happens along the way.

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You can go to every bank one at a time or you can go to them all at once with one application why not be one and done– something no bank can do ! With exceptional service, expert advice we will save you thousands.

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Our Mortgage Process Simplified.

At Saran Mortgages want to provide you with a stress-free mortgage experience.

Pre Approval Consultation: You’ll discuss what your situation and needs are with our mortgage brokers so we can provide the options with pros and cons to each. From here, you’ll fill out an application online or in-person and upload the necessary documentation; you’ll then receive a pre-approval and budget so you can begin your search.
Make An Offer On Your Home and Gather The Necessary Information: We’ll review and gather employment letters, pay stubs, and all necessary documents to make sure there are no surprises at the end.
Select a Lender: Together we’ll review lender options and the type of loan that best suits you.
Mortgage Loan Submission Mortgage Load Approval: We are notified of the approval and we then ensure with you any outstanding conditions are met prior to funding.
Prepare Mortgage Documents: Your mortgage documents are completed and you can sign them from the comfort of your home or come in to sign.
Mortgage Funding: Your mortgage funds are then transferred by wire to your lawyer on your closing date.
Move in and love your new home – CONGRATULATIONS!

There’s nothing like the excitement of buying your first home

With excitement can also come with a lot of pressure as you step into the complex world of mortgages and financing. The good news is you don’t have to go through the process alone. An experienced, professional mortgage broker, like those on the Karan Mortgages team, can help you cut through the red tape and find the best rates and best mortgage options to help you buy your dream home. Wondering how much you can afford to spend before you go scouting for your first home? That’s a smart question, and a mortgage broker can help you find the answer. He or she can help you determine if you qualify for a pre-approved mortgage – which, in general terms, is the assurance that a lender will provide you with a specific amount of money when you’re ready to buy. Pre-approval status is typically determined by an assessment of your income, your assets and liabilities, the source of your down payment, and your credit report, and you may be required to produce documentation, such as photo ID, a record of employment, a letter from your employer, your banking information and more.