You are looking to buy your first home or make another real estate purchase.

It’s time for you to buy your first home - or - you are looking to make a new move or purchase multiple properties?

First of all - wow what an exciting time for you! This is one of the most exciting and (ok scary) commitments you will ever make, but you are going to be thrilled once you make it through this process. You have made an excellent choice working with a mortgage broker, and well me of course!

Here is the process we are going to go through to get you to ‘APPROVED’ - this is the critical part of the buying process to avoid any disruptions and stress

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PRE-APPROVAL

what does that mean? Why do I need that?

A pre-approval means that I have reviewed your entire application - credit, income assets and down payment prior to the lender. This step is a critical step in the process to avoid the stress we have discussed. By taking this critical first step you are set up for success to negotiate the best price, shop in your price range & deal with any concerns in advance. Go into your home buying search with confidence.

  1. connect

    Discuss your goals and hopes for homeownership & beyond.

  2. the process

    How you get from here to there, and all the in between.

  3. the application

    The part that gives you the confidence and guidance to move forward.

  4. head out with your realtor

    It’s time to find ‘the one’.

  5. write the offer

    With a condition for financing of course.

  6. finalize the approval

    And get back to enjoying your life!

  7. MOVE IN!!

    Get back to enjoying your life

Biggest Question - how much do I need for a down payment?

If this is your first home or any owner-occupied purchase the simple answer is* - a minimum of 5% down payment is required to purchase a home. Homes purchased with between 5- 19.99% down payment require the mortgage has default insurance to guarantee the mortgage loan. You are responsible for paying the default insurance premiums - they will be added to the mortgage loan. There are three default insurance providers in Canada - you have likely heard of CMHC, the others are Genworth Financial and Canada Guarantee. If you purchase with less than 20% down payment your mortgage is called a HIGH RATIO mortgage or Insured Mortgage.

If you are able to put 20% or more as a down payment you will not be required to pay the default insurance premiums - this type of mortgage is called a LOW RATIO mortgage or conventional mortgage. 

Some important links for you:

First Time Homebuyers Incentive

First Time Homebuyers RRSP Withdrawal

Download my app to use while you are shopping

*if the property has 3 - 4 units then 10% down payment is required, please contact me about multi-unit purchases