Blog Article

Wednesday, 07 June 2023

By Leahs Mortgages

Leah Zlatkin interviewed by Narcity: “5 Things You Should Do Before Applying For A Mortgage, According To An Expert”

Leah Zlatkin says that “young buyers [have to] make sure [they’ve] got consistent income coming in to qualify for a mortgage and many of them don’t understand that or feel confused as to why they can’t get a mortgage when they’ve got a great contract for six months where they’re making $150,000 and they feel that they should be entitled to a mortgage based on that.”

Additionally, she said many people with variable rate products were “holding on to hope that by December, rates would start coming down.” Zlatkin said many individuals with a variable product are now electing to switch to a fixed product.

Zlatkin also outlined the importance of not biting off more than you can chew when applying for a mortgage. While clients may qualify for a certain amount of money, Zlatkin believes that they should only take on a mortgage if they can comfortably afford the payments.