Are you looking to buy your first home? We have the key to your happiness and your new home.
First time Home Buyers- LET’S DO THIS!!!
A successful homebuying experience is all about getting the details right from start to finish. The right tips for First Time Home Buyers will help you navigate the entire process, save money and close the deal by following these four easy steps to home ownership:
Step 1: Explore Mortgage options by connecting with a mortgage broker Its’s a great idea to connect with a broker because they:
- Have access to over 50 banks and lending institutions
- Provide you with a mortgage solution that meets your needs
- Will give you unbiased advice for the mortgage you need
Step 2: Select your Mortgage Solution Mortgages are complex, your broker can inform you about:
- Open vs. closed mortgages
- Fixed vs. Variable Interest
- Payment amount and frequency
- Closing costs
Steps 3: Calculate your Budget Trying to find out when you can afford? Your broker can help you:
- Finalize your down payment amount
- Use your RRSPs in your down payment
- Establish your purchase price and the total mortgage amount
Steps 4: Purchase and approval Time to buy! During this process your broker will:
- Submit your mortgage application to the appropriate lender
- Submit all relevant documentation for approval
- Communicate with you, your realtor and your lawyer on your approve
There’s nothing like the first night in your new home! There is a short checklist of things you will when you start looking at your first home:
- Your down payment- make sure you have set money aside
- Budget your income and expenses- can you afford your monthly bills AND mortgage?
- Found a home that you love!
If you have checked off these three things from your list, let’s get started! You are officially on your way to starting to become a Homeowner! Now it’s time for us to sit down and discuss your mortgage options.
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