First Time Home Buyer Mortgage

Buying a home for the first time is quite an intimidating process. There is so much to be done and as a first time home buyer  you are probably unaware of most of the procedures and measures you would have to take to get the First time home buyer mortgage Brampton, Caledon, Oakville, ON. In such a position, a mortgage agent who understands your needs and can really guide you through the process is a must. “Smart” debt can cause a loss if you don’t have the right guide!

There are a few things to keep in mind before going for a mortgage:

Determine what you can afford:

Before you start shopping for a home – and long before you consider putting an offer on one – let us help you determine how many homes you can comfortably afford. This can be done with a pre-approval from us! Having a realistic budget to start will bring you confidence. Remember that home ownership involves costs beyond the monthly mortgage payment such as utility bills, insurance, taxes, home upkeep. Talk to us about getting pre-approved, so you’ll get your interest rate guaranteed for a set period, typically 90 to 120 days.

What do we offer?

Down payment options:

Down payment is one of your most important considerations before you look to purchase your new home. If you’re in the “saving up” stage of preparing for home ownership, this is a great time to meet with us, so we can discuss your down payment options. In most cases, you want to save five percent of the purchase price. you can get first time home buyer mortgage Bramtpon, Caledon, Oakville through this.

Low rates:

Everyone likes to get the best for the lowest price. But with so many options, determining the right one could be quite the hassle. The right mortgage consultant can get the right combination of mortgage features, privileges and rate that is best matched to your needs. The right mortgage goes beyond just the rate–it’s important to also consider the term, prepayment options, refinancing penalties, restrictions, and fees. With us, it’s a process with no fuss!

A small amount of savings? Get your dream home with these pointers!

The Home Buyers’ Plan (HBP) :

first-time homebuyers can withdraw individually $25,000 or $50,000 with a spouse tax-free from their RRSPs, provided they adhere to the repayment plan.

Gifted down payment from an immediate family member :

Can be a source of funds as long as the homebuyer receives in writing that they are not required to pay the money back at any time.

Start off small – the dream home may be priced too high, so a starter home might be the right option for a first-time homebuyer Mortgage. A smaller home or maybe a house just outside of the expensive area will help get a foot in the door. The homebuyer can take advantage of the low-interest rates to pay off the home quicker and use the equity from the first home to buy the dream home later.

Plan for closing costs:

There are additional costs that come with buying a home, so you’ll need to have some extra funds set aside to cover these costs. Generally, you can expect to pay between 1.5% and 4% of the home’s selling price in total closing costs. We can outline all of your closing costs, so you won’t be caught by surprise.

Helping you to achieve home ownership!

We can introduce you to several financing options from a wide range of lenders. There are several different routes you can take: you may want to use the equity in your principal residence to finance your vacation property or second home, or you may opt to take out a secured line of credit or second mortgage on your principal home. Most lenders look for a well-built property, in a good location, and with year-round access. If you want the right house at the right price, you need to build a team of professionals. We’d be happy to help you build a strong team so that all aspects of your home buying experience are efficient and professional. Your team will include a realtor, lawyer, and a home inspector.


Achieve your home goals with us! Call now!