The excitment of shopping for a new home is something someone never forgets. Its important to consider all your options and complete your research before jumping in.
Just like you wouldnt negotiate the purchase a new home without the expertise and knowledge of a real estate agent or lawyer, you shouldnt arrange and negotiate your own mortgage. Working with a professional Mortgage Broker, Real Estate Agent, and Lawyer will assure satisfaction and success.
A mortgage is likely going to be your largest debt. Having a clear understanding of all the costs associated with home ownership and completing a mortgage plan to ensure you pay off your mortgage in the shortest time frame will make you a proud home owner. Having a “set it and forget it” mindset will end up costing you more in the long run.
Having a pre-approval in place before you call a Real Estate Agent is your best bet, it will save you time and money. Pre-approvals typically last for 90-120 days. It ensures confidence when you make your offer and may even allow you to beat out other offers.
The Canadian Government has a great program called the “Home Buyer’s Plan”. This program allows for the withdrawl of up to $25,000 from your RRSP to be used towards the downpayment on your purchase or construction of a home. The funds are repaid to your RRSP after a two year grace period. Payments can be spread up to 15 years.
To arrange a stress free, no obligation consultation please contact us today.