ADDITIONAL RESOURCES

You might not know that the lending environment has changed greatly in the past few years, and rates today depend on many more variables: How much of a down payment you have, whether your mortgage will be insured, what your credit score is, and how severe a payout penalty you’re willing to risk. These are just a few of the variables that make up your final rate.

So rather than posting the absolute lowest rate possible on the assumption that every variable works out in your favour, let’s talk so we can determine what your particular situation is and what your rate might look like.  We’d much rather do that then publish a rate you’d be disappointed if it wasn’t available to you.  It takes a conversation with an industry professional to explain the pros and cons of any rate being offered.  Call or email today so we can discuss your personal situation.

1. WORK WITH AN EXPERIENCED MORTGAGE BROKER

As a first-time buyer, surround yourself with Licensed professionals who can make the purchase of your largest asset a seamless and informative experience. Our network of Licensed Mortgage Brokers, Realtors, Lawyers, Appraisers, Inspectors, Insurance Brokers and Lenders will assist you from A to Z.

2. GET LENDER PREAPPROVED & INTEREST RATE PROTECTION

Shopping without a Lender preapproval and rate hold is bad news! Its like shopping blind. We will review your budget, purchase price range, obtain Lender approval and an interest rate hold for up to 120 days. Ensuring your pricing is protected and file ready to go for when you make an offer.

3. KNOW YOUR DWELLING STYLE

Are you searching for an urban condo? A spacious detached home with a yard and garage? Maybe an acreage where you will have room to grow? Having an idea in mind will help us plan for success

4. BE AWARE OF PURCHASE EXPENSES

In addition to the minimum 5% down payment, you will need to budget for closing costs, moving expenses and start up costs after moving in. We will review these in detail for you and build a homeowner budget so you have all your pricing top of mind.

5. USE AN EXPERIENCED REALTOR

Purchasing your first home is one of the largest transactions you (probably) will make in a lifetime. It is paramount that you have an experienced Realtor to guide you. We would be happy to connect you with industry leading professionals, but be sure you interview a few! Find someone you like and can trust to assist you with this transaction.

6. MAKE YOUR OFFER SUBJECT TO FINANCING

It is very important to make sure your Offer to Purchase includes a condition of financing, with a minimum of 7 business days to arrange your mortgage. This allows us enough time to finalize conditions/paperwork with the Lender. This is also our/your “out” clause from the purchase contract. It protects you!

7. HOME INSPECTION – IT’S A MUST!

A Home inspection is worth every penny! On average, be prepared to spend $500+, but it is money well invested. Whether the report finds minor or major defects, it could potentially save you thousands on repairs in the long run!

8. YOUR REAL ESTATE LAWYER

When your financing is complete, the Lender will send closing documents to your Real Estate Lawyer. You may not have a Lawyer yet, but we would be happy to connect with you the best! The Lawyer’s team reviews, prepares and finalizes your legal documents to register and fund the mortgage loan. Expect to spend a min $1000 on these services.

9. CLOSING DAY

This is the MOST exciting day! The end of the house hunt journey and the day you get the keys! Your Lawyer will handle the transfer of money from buyer to seller, allowing your Realtor to give you access to your beautiful new home! Congratulations!

WORDS OF WISDOM
Never underestimate the time and effort that goes into making you first home purchase a success transaction. Work with professionals who are informative, patient, and care as much about this large life milestone as you do! Working with first time buyers is one of our absolute favourite aspects of what we do. We love helping to make dreams come true!

We Look At Finance Differently

What Our Client's Say

Eden was absolutely terrific to work with. She helped us understand the mortgage renewal system and also elaborated on options that were available to us when thinking about different forms of financing for our home renovation. She is so knowledgeable in what she does and as a customer, that puts me at ease.
S. Assie
Her communication and patience throughout were incomparable and made a very stressful process much more tolerable. We have no doubt that had she not been such a strong, solution driven advocate we not be presently living in our dream home. Our gratitude to Eden is profound and we would recommend her in a heart beat.
V. Slobogian
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