As a first-time homebuyer, working with a professional mortgage agent is your first step toward securing a successful mortgage. Choosing the wrong one could cost you thousands of dollars, but if you make the right choices, you could save thousands. As your mortgage innovator , I will share my expertise and make unbiased recommendations so you can rest assured you’re getting the best financing possible for the biggest purchase of your lifetime. The following information should help shed some light on the services I can offer in your first home-buying experience.
Mortgage Calculators for Successful Financing
I’m able to offer a variety of resources to help secure the most successful mortgage for your needs and goals. After our calculations, you should have solid answers to the following vital questions:
What Mortgage Options Are Available to Me?
We can calculate all the combinations of features and options that are available to you, so you can choose the mortgage that’s right for your budget and lifestyle.
How Much Mortgage Do I Qualify For?
I can calculate the maximum mortgage you will qualify for based on your financial information and a number of different factors.
What Will the Closing Costs Look Like?
You don’t want your closing costs to come as a surprise. As your mortgage agent, I will provide an estimate so you won’t be caught off guard.
Important Information for First-Time Buyers
Rebates and Special Programs are Available: First-time homebuyers in Canada may qualify for special savings and programs, including the First Time Homebuyer tax credit and the opportunity to use RRSP to buy a home. As your mortgage agent, I will strive to keep you informed about all the latest refunds, rebates and other resources to save money on your home purchase.
Different Types of Mortgages: First-time purchasers may choose from conventional mortgages, in which the lender provides as much as 80% of the home’s appraised value, or insured mortgages, in which the lender finances as much as 95% of the home’s appraised value. In the case of an insured mortgage (also known as a high-ratio mortgage), the homebuyer must secure additional insurance from one of the qualifying institutions, including CMHC, Genworth or Canada Guaranty.
Different Costs Involved in a Mortgage:
Down Payment (5-20% of purchase price)
Closing Costs (may include legal fees, home inspection fees, land transfer tax, survey fees, etc.)
Different Costs Involved in Owning a Home:
Moving Costs
Property Insurance
Property Taxes
Service Charges
Maintenance Fees (legally required for condo owners)
Monthly Mortgage Payments
