The Power of an Agreement in Principle (AIP)
You've finally found the perfect property—the one that feels like home even before you've stepped through the door. But in today's competitive housing market, securing your dream home requires a crucial step in the home buying journey: getting an Agreement in Principle (AIP) for your mortgage.
What is a Mortgage Agreement in Principle (AIP)?
A Mortgage Agreement in Principle, commonly known as an AIP, is a pre-approval from a lender that confirms how much they're willing to lend you based on an initial assessment of your financial situation. It's not a guarantee of a mortgage, but rather a valuable indication of your borrowing capacity.
Why is it important?
Here's why obtaining an AIP should be your first step in the home buying process:
1. Visibility: With an AIP, you have a clear understanding of your borrowing capacity. This allows you to narrow down your property search to homes that fall within your budget, saving you time and energy.
2. Competitive edge: In a competitive housing market, having an AIP demonstrates to sellers that you're a serious buyer with the financial backing to proceed. It can give you an edge over other potential buyers who haven't taken this step.
3. Confidence: Knowing that you have a lender's initial approval can provide peace of mind during the house hunting process. You can confidently make offers on properties, knowing that financing is within reach.
How to get an Agreement in Principle
Getting an AIP is a straightforward process. Start by reaching out to us to begin the application process. Our team of mortgage experts will guide you through the process, helping you understand your options and choose the best mortgage product for your needs.
1. Provide information: You'll need to provide details about your income, employment status, expenses, and any existing debts as part of the application process. Rest assured that your information will be handled with the utmost confidentiality and professionalism.
2. Receive AIP: If your application is successful, you'll receive an AIP document from PBS Financial Advisers outlining the amount you're likely to be approved for. This document is your ticket to confidently explore the housing market, knowing that you have the backing of a trusted financial partner.
Take the first step towards homeownership
With our same-day Mortgage Agreement in Principle service, you can gain clarity and confidence in your homebuying journey. Our team of experts is here to help you navigate the process swiftly and smoothly, so you can focus on finding your dream home. Contact us today and let us help you turn your homeownership dreams into reality!
