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.
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.
When it’s time to purchase your first home, taking care not to miss any steps can help smoothen the process and save your money and time. Finding the ultimate checklist can help you remember all necessary steps and expedite the process of buying your first home.
Getting your first home is a huge financial decision, and as such, finding ways to fund your investment is crucial. Finding the deposit, qualifying for a mortgage, and making consistent monthly payments are all critical aspects to consider.
A home is one of the most valuable assets you can own financially and on a sentimental level. However, the process of buying a house can be long and tedious, and that's why many first time home buyers make mistakes.
If there's one thing that has remained consistent over the centuries, it is the pride that comes with living in your own house. However, before you become a homeowner, you must navigate the hurdles of the first time homeowner buying process.
The Canadian First Time Home Buyer Incentive (FTHBI) is an initiative that seeks to make it easier for you to own a home, but not everyone qualifies and it can come with some risk.
When buying a home in Edmonton, getting a first time home buyer mortgage can be quite a feat. With these tips, the home buying process will be clearer and you will improve your chances of securing a mortgage to buy your first home.
The idea of owning a home (a place that's yours, where your kids can grow up and make lifelong memories) is alluring to most people. This is why buying your first home is one of the most exciting and important investments of your life.
Buying your first home is a big step. When you are ready to buy your first home, it is wise to work with an experienced professional to guide you through the process and help you to qualify for a first time home buyer loan.
If you’ve had a good relationship with your bank, then it’s only natural that you will turn to them for assistance- even with your mortgage. However, your bank might not always be your solemn savior. What will you do if your bank turns away your mortgage application?
The Debt to income ratio (DTI) is the measure of the debt held by a household to the amount of disposable income. DTI ratio is calculated by summing up all the debt a household has (mortgages, car loans, credit card debt, personal loans) and dividing it by the annual income
- How to Avoid Being Overwhelmed by Your First-Time Home Buyer Mortgage
- Understanding the First-Time Homeowner Buying Process
- Tips for Saving the Down Payment You Need to Get a First-Time Home Buyer Loan
- Avoidable Mistakes People Make with Their First-Time Home Buyer Mortgage
- Do You Automatically Qualify for FTHBI When Buying Your First Home?
- Contact Us for More Information On Mortgage Broker Services