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Buying Your First Home: Three Steps to Successful Mortgage Shopping

Buying a home is probably the biggest financial decision you will ever make, and for most people, it requires getting a mortgage. You can follow three steps to make sure you get the mortgage that’s best for you:

• figuring out what features you need and want in a mortgage;

• getting pre-approved for a mortgage; and

• understanding your rights when you apply for a mortgage.

uk-first-time-buyer

You have decided that you want to purchase a home. There are some important questions you need to ask yourself before and during the mortgage process such as:

• How much of a down payment do you have?

• What price range for a home is within your budget?

• Have you considered all the costs involved with owning a home, such as:

–  mortgage payments

–  utility costs

–  property taxes, and

–  maintenance costs?

• Are you expecting any big changes that will affect your household budget in the near future?

For example, are you planning on starting a family or adding other expenses, such as car payments, that would affect your budget?

This publication will help you get prepared for buying your first home.

>>Click here to view the First Mortgage Guide.

 

Casey Ragan

“Toronto’s Condo Authority”

Toronto Condos and Lofts

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Address

RE/MAX Hallmark Realty Ltd., Brokerage
723 Mount Pleasant Road
Toronto, ON
M4S 2N4

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Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 8/21/2017 1:47:21 PM