Top 5 Mistakes to Avoid When Applying for a Mortgage in Barrie (2025 Guide)

Mistake #1: Not Getting Pre-Approved Before House Hunting

• Explains why pre-approval is critical
• Benefits of getting pre-approved
• How it gives buyers a competitive edge in Barrie’s market

Mistake #2: Ignoring Your Credit Score or Not Fixing It First

• Describes how credit scores impact mortgage approval and interest rates
• Lists common credit issues people in Barrie face
• Offers tips on how to check and improve credit

Mistake #3: Making Big Purchases or Job Changes Before Closing

• Warns against financing big-ticket items or switching jobs during the mortgage process
• Includes a real (anonymized) example from a Barrie client
• Advises how to keep your profile stable until closing

Mistake #4: Not Factoring in All the Closing Costs

• Highlights commonly overlooked costs like legal fees, land transfer tax, appraisal
• Breaks down typical costs in Barrie
• Suggests budgeting 1.5–4% of the purchase price

Mistake #5: Not Working with a Local Mortgage Expert in Barrie

• Explains the difference between a bank vs a local mortgage broker
• Lists benefits of working with a local expert (more lender options, personalized advice)
• Recommends asking about local programs and incentives

Bonus Tips Section

• 4 quick tips to improve mortgage approval odds
  • Keep income stable
  • Save more for down payment
  • Be responsive with documents
  • Don’t change financial situation suddenly

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