Handling a first-time home buyer mortgage is challenging for most home buyers. The lengthy paperwork, financial terms, and math quickly get to your head and become confusing. Arming yourself with adequate knowledge makes it easier to understand the first-time home buyer process.
Buying your first home is an exciting yet challenging journey. At Dominion Lending Centres, we do our best to educate all our clients before going through the home buying journey. We know that first-time home buyers are likely to have a lot of questions and need extra guidance. We specialize in just that!
As a first-time homebuyer, you need to come up with a minimum 5% down payment. A down payment is the percentage of the home’s purchase price that you pay upfront before financing the balance. Saving up for a mortgage down payment requires long term planning. Here are some of the tips you can use to save up for a mortgage down payment before applying for a first-time home buyer loan.
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Every year, Dominion Lending Centres interacts with new home buyers in Edmonton and Alberta. We’ve taken hundreds of buyers through their first-time home buyer mortgages and discovered mistakes many people make.
The costs of buying your first home can quickly add up, making it difficult for you to own your own home. Fortunately, federal government programs such as the First-Time Home Buyer Incentive (FTHBI) can make it easier for some to purchase their first home.
When you decide to purchase your first home, you'll want to know all your financing options for a first-time home buyer loan. Usually, you'll approach a bank or a mortgage broker.
Qualifying for your first-time home buyer mortgage is a critical part of the homeownership process. You need to provide several documents to your mortgage broker and lender.
The first-time homeowner buying process is exhilarating. It’s fun to dream about your dream home and new life, but sometimes, you may get wound up in the fantasies and make mistakes. Unfortunately, when it comes to decisions as significant as mortgages, mistakes can cost you hundreds of dollars.
Buying your first home is a substantial financial investment. For this reason, it’s essential to arm yourself with adequate information and a solid plan to help you balance your debt, income, and expenses.
When buying a home for the first time, seeking the counsel and help of an experienced mortgage broker is critical. A mortgage broker specializing in first-time home buyers can help you negotiate a mortgage, find the right home within your budget, and avoid any unnecessary delays or complications.