When should I see a mortgage advisor?

Before you start searching, to know your real budget, and again before offering on a property, so the contract's payment schedule matches the financing.

What is pre-approval?

A preliminary approval from the bank for the amount and terms, based on the documents you submitted. It's valid for a limited time and isn't a final commitment: final approval comes after the property itself is reviewed.

Does a mortgage advisor replace the bank?

No. The loan is given by the bank. The advisor helps build the mix, submit applications and negotiate with several banks in parallel.

Can I choose insurance outside the bank?

Yes. Life and structure insurance are required as a loan condition, but you can buy them outside the lending bank, and it's usually worth comparing.

How much does the service cost?

Fees are set in the advisor's quote, based on the scope of support, and agreed directly with them before work starts. Sending the request doesn't commit you to work with them.

What happens to my details?

They're shared only for the service you chose, and only after you agreed in the form.

Mortgage advice: pre-approval, track mix and bank comparison

Where mortgage advice fits into the deal

The right time is before you start searching, and again before making an offer.

1Budget and pre-approvalYou know how much you can buy and on what terms.
2Search and visitsYou search within the price range financing allows.
3Offer and contractThe contract's payment schedule matches when the bank transfers the money.
4Final approval and collateralAppraisal, insurance and registering the collateral for the bank.
5Getting the keysA mortgage that still suits you ten years from now.

1
Budget and pre-approval
You know how much you can buy and on what terms.
2
Search and visits
You search within the price range financing allows.
3
Offer and contract
The contract's payment schedule matches when the bank transfers the money.
4
Final approval and collateral
Appraisal, insurance and registering the collateral for the bank.
5
Getting the keys
A mortgage that still suits you ten years from now.

Same mortgage, two scenarios

Same mortgage, two scenarios
Finding	Impact	Found out before committing	Found out after committing
1Down payment not enough for the financing ratio	Impact:	Found out before committing:You know in advance what price is possible.	Found out after committing:You committed to the seller before confirming financing.
5Monthly payment too high relative to income	Impact:	Found out before committing:You adjust the budget or the mix before the offer.	Found out after committing:The bank approves less than planned, and you have to find the gap mid-deal.
3A mix that doesn't suit you	Impact:	Found out before committing:You build a mix that balances stability and flexibility.	Found out after committing:A mix that turns out expensive over the years, and refinancing comes at a cost.
4An offer from just one bank	Impact:	Found out before committing:You compare several offers and use them to negotiate.	Found out after committing:You stick with the first offer you got.

What happens after you leave your details

Send a request
Two minutes: your situation, when you need financing and how to reach you.
A Hoomy representative calls you back
Within a business day, to understand the budget and the timeline.
Arrange a mortgage advisor
The meeting with the advisor focuses on budget, pre-approval and comparing offers.

The mortgage is sorted before you find the home

Down payment and financing ratio

Where mortgage advice fits into the deal

Same mortgage, two scenarios

What your advice should include

What happens after you leave your details

Questions about Mortgage advice

More professionals throughout the deal

Mortgage advisors: join the Hoomy network