Begin by assessing your financial situation. Calculate your total income, existing debts, and monthly expenses to determine how much you can afford for a mortgage payment. Remember to consider additional costs like property taxes, insurance, and maintenance.
Our specialists can help you calculate the down payment amount.
Before starting your house hunt, consider getting pre-approved for a mortgage. This process involves a lender reviewing your financial information to determine the maximum amount they're willing to lend you.
Enlist the help of a qualified real estate agent. A knowledgeable agent can provide valuable insights, guide you through the buying process, and negotiate on your behalf.
Once you’ve found the property you’re interested in, conduct inspection for any potential repairs, review strata documents (if applicable), research the property’s history and market value.
Reach out to a mortgage broker and discuss various mortgage options, interest rates, terms and payments to find the best fit for your financial situation and future plan.
Don’t forget to budget for closing cost. Your mortgage broker can walk you through an estimated amount for closing cost which includes legal fees, land transfer taxes, title insurance and other miscellaneous expenses.
We start by getting to know you and understanding your unique financial situation and homeownership goals. This consultation helps us tailor our services to meet your needs.
Once you're ready to move forward, we assist you in completing your mortgage application accurately and efficiently. Our goal is to make the process as smooth as possible for you.
We manage the entire application process on your behalf, liaising with lenders and ensuring that all necessary documentation is submitted promptly and accurately.
Once your application is approved, we guide you through the final steps of the process, including signing the necessary paperwork and securing your mortgage funding.
A First-Time Owner Mortgage is a type of loan tailored specifically for individuals who are buying their first home. This mortgage often features lower interest rates, reduced fees, or more flexible payment options to help make homeownership more accessible for first-time buyers.
Typically, you qualify as a first-time homebuyer if you have never owned property before, whether individually or jointly, and you plan to occupy the home as your primary residence.
Our service includes personalized mortgage advice, access to special first-time buyer loan programs, assistance with paperwork, and support throughout the home buying process to make your first purchase as seamless and stress-free as possible.
Yes, there are several government programs designed to assist first-time homebuyers, such as the First-Time Home Buyer Incentive, which can help lower your monthly mortgage payments without adding to your financial burdens.
Yes, under the Home Buyers' Plan (HBP), first-time homebuyers can withdraw up to $35,000 from their RRSPs tax-free to use as a down payment, with the condition that the funds must be repaid within 15 years.
While credit requirements can vary, having a good credit score can improve your chances of obtaining favorable mortgage terms. Typically, a score of 620 or higher is recommended, but we also have options for clients with lower scores.
Please contact one of our mortgage specialists and they can guide you through the application process and discuss the documents required.
Generally, you will need to provide proof of income, employment verification, credit information, and details of the property you intend to purchase, among other documents.
