Your first home, without getting lost in the process.
Buying your first home comes with a lot of questions. How much can you afford? How much should you put down? Where do you start?
I'll go through all of that with you, simply.
You don’t need to have all the answers before contacting me.
That first conversation is where I start helping you put things in order and figure out your next steps.
I start by understanding where you stand: your income, your down payment, your plans and the properties you’re looking at.
Then I help you establish a realistic budget and explain what lenders will be looking at. The goal is for you to know where you’re going before you start making offers.
Key points
The essentials you need to know
Down payment and mortgage insurance
Fixed or variable rate
Costs to plan for and available programs
With a down payment of less than 20%, mortgage loan insurance is generally required, depending on the applicable criteria.
Fixed or variable? There isn't one answer that works for everyone. I look at your budget, your comfort with payment changes and your plans before helping you choose.
Don’t forget notary fees, the home inspection and the land transfer tax. If the Home Buyers' Plan can help in your situation, I'll also look at how it could fit into your down payment.
Things to keep in mind
A few mistakes to avoid
Making an offer without knowing your real budget can lead to disappointment. A pre-approval mainly helps you shop knowing what you can realistically afford.
A pre-approval is your best tool to avoid wasting time.
On top of your down payment, keep a cushion for moving costs, minor repairs and regular maintenance on your new home.
Forgetting about additional costs
Avoid major purchases or job changes right before closing, since they can affect your approval and potentially delay the transaction.
Financial stability
Have a question while you’re searching? You know who to call.
I stay available throughout the process to answer your questions and help you understand what’s happening at every step.
Thinking about buying your first home? I can start by looking at your budget and the next steps with you.
