What's Your First Time Home Buyer Plan?
Do you dream of coming home to a place that's all your own? A real home without landlords or rent? Well, making this dream a reality is easier than you think, especially if you have a team of trustworthy advisors helping with your first time home buyer search. FamilyLending.ca's expert staff of Mortgage Brokers and Agents are here to help make the transition into home ownership as easy and stress-free as possible. Read on for some helpful first time home buyer tips and an informative first time home buyer checklist.
First Time Home Buyer Checklist
There's much more involved in a first time home buyer plan than simply checking the MLS for new real estate listings. The following first time home buyer checklist outlines some of the more important parts of your search.
- Find out what you can afford
You shouldn't even think about viewing a home until you know exactly what your budget is going to be. Shopping for homes that match your financial situation will make the buying process easier and more attainable. Start your Income Verified Pre-Approval Now!
- Review your credit scores
Your credit score will have a major affect on the amount of money a lender will be willing to give you in order to help finance the purchase of your first home. First time home buyers will qualify for a lower mortgage interest rate if their credit scores are above the 680 mark. If your credit score is less-than-perfect, don't worry! Our expert team of mortgage brokers will work tirelessly to find you a competitive bad credit mortgage rate that works with your first time home buyer plan.
- Get a mortgage pre-approval
Getting income verification pre-approved for a mortgage will help ease your financial uncertainties and improve your first time home buyer confidence. Start the mortgage pre-approval process today with FamilyLending.ca's no cost, no obligation pre-approval application.
- Choose the right mortgage for you
Once you've found the dream home, it's time to finalize your mortgage and decide on the type of mortgage product that's right for you. From fixed to variable, Home Equity (HELOC) or a reverse, FamilyLending.ca can help you find the mortgage that's right for you.
- Find a Fantastic Realtor
Like a mortgage broker, a professional realtor knows all about the stresses first time home buyers face. Choosing a realtor that's kind, knowledgeable and aware of your financial situation will greatly increase your chances of finding the perfect home and let you negotiate the best price.
- Complete the paperwork
Finalizing the paperwork on your new home is one of the last steps you'll need to take towards securing your mortgage.
- Protect your family
The final step in the first time home buyer plan is to make sure you have the proper Life Insurance coverage on your new mortgage. Convenient, affordable insurance can often be built right into your mortgage, so don't forget to ask your mortgage broker about this popular option.
For more first time home buyer tips and advice, call toll-free 1-866-941-6678 and ask to speak to a professional at FamilyLending.ca. More first time home buyer tips are also posted to the FamilyLending.ca resource library.