Hey Everyone!

Back with another one of those block rockin beats!

Every day, I get questions from people who are buying, selling, refinancing, or just poking around Realtor.ca at 2:47am wondering if they should make a move.
Here are six of the best questions I’ve gotten lately, and what you need to know if you’re asking the same thing.

“Me and my best friend are thinking of buying a place together. Is that a thing?”

It totally is. Buying with a friend, sibling, or partner (married or not) is becoming more common, especially with today’s prices. The key is having a co-ownership agreement in place before the keys are in your hand.

You don’t need to overcomplicate it, I’ve helped a bunch of people do this the smart way.

“We just got pre-approved, are we locked into that rate?”

Mostly, yes. A pre-approval usually includes a rate hold for up to 120 days, which protects you if rates go up. If rates drop before you lock in a deal, we can usually get you the better rate.

So it’s kinda like a sweet backup plan. We can lock something in and if we need to make another move in your favour later, we can do so. I’ve got you.

“Do we have to sell before we buy?”

Nope. If you’ve built up enough equity and have the income to support it, we can look at a bridge loan, it covers the gap between buying your next place and selling your current one.

This works great if you’ve found the perfect house and don’t want to rush your sale.

“Our mortgage is up for renewal, should we just sign what they sent us?”

Short answer: No. Call me first.
Lenders often send out auto-renewal offers that aren’t as competitive as they should be. I can help review your options, and in many cases, find you a better rate or structure.

“If the house has a rental suite, does that help me qualify?”

Yes, in a big way. Most lenders will count part of the expected rent (usually 50–80%) toward your income, which can increase how much you qualify for and help cover your monthly payment.

Just one more reason to keep an eye out for those basement suites or laneway homes.

“We’re not quite ready to buy, should we still talk to you?”

Absolutely.
Whether you’re buying in 6 months or 2 years, starting the conversation early means fewer surprises and way less stress. I can help you clean up your credit, figure out a realistic budget, and map out a plan.

Want to ask your own “Hey Andrew!” question?
Just hit reply to this email or text me and I might even feature it in next month’s edition.

Until next time,
– Andrew