First Time Buyers

Is home ownership right for me?

Buying a home is one of the biggest financial and lifestyle decisions you will make, so it pays to make an informed decision by first looking at the main disadvantages and advantages of Home ownership.  I will assist you with the entire home buying decision and process – right from the moment you decide to buy your home to the moment the movers carry the first box through the front door!
Let me walk you through the important highlights you will encounter through the step by step process.  Knowledge of what happens when including the costs involved will ease any unexpected pressures.
You can expect professional step by step guidance through the Home buying process including the following . . .

The Importance of Getting Pre-approved

  • Knowing what you can afford
  • Expect better service from your Realtor
  • Rate guarantee up to 4 months
  • Ensure all credit approval documentation is in place sooner than later
  • No cost with no risk and obligation

What products are available?

  • Open vs. closed mortgage
  • Fixed rate vs. variable rate mortgage
  • Length of repayment (amortization) – now up to 30 years (effective March 18th, 2011)
  • Term of mortgage-6 months to 10 years
  • Conventional vs. high-ratio mortgage
  • Assumability and Portability

What documents do I need?

  • What documentation is required for different income types i.e. Salaried vs. self-employed
  • Verification of down payment including the amount, history and source
  • Customize Your Mortgage – Making sure your mortgage works for you
  • Lowest rate or cash back
  • Fixed rate vs. variable rate (or both)
  • Term from 6 months to 10 years
  • Payment frequency
  • Pre-payment privileges and penalties

What costs exist over and above my down payment?

  • A detailed breakdown of costs will be provided so you have NO surprises
  • Other costs include: Legal fees; land transfer tax; survey; title insurance; fire insurance; home inspection; and GST. Organize your Home buying team of professions to assist you with the process. Your Home buying team includes your Mortgage Professional, the Realtor, the Home Inspector, the Lawyer or Notary and the Insurance Agent!