How To Buy Your First Home - Step 4: Gather The Funds Needed To Buy Your New Home

How To Buy Your First Home - Step 4: Gather The Funds Needed To Buy Your New Home

If you’re like most future first time home buyers, the idea of needing to save up money for your deposit, down payment, land transfer tax, and legal fees can seem really daunting. That’s why it is ideal to start saving as early as possible. Even though you might not be looking to buy a home for another 2 years, stashing away money now can help make the process of handing over so much cash a little more manageable. 

Check out the break down of the costs you can expect as a home owner, and a trick to help you start saving for your down payment.

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How To Buy Your First Home - Step 2: Get A Mortgage Pre-Approval

How To Buy Your First Home - Step 2: Get A Mortgage Pre-Approval

Nothing will give you a more accurate picture of what price point you can afford to purchase your home in than speaking with a mortgage professional. Bonus: their services and advice are free!

Should you speak with a mortgage broker or the bank? What is a mortgage pre-approval? Is it a guarantee of financing?

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Mortgage Rules Tightened in Canada – What Does This Mean For You?

Mortgage Rules Tightened in Canada – What Does This Mean For You?

This morning, The Bank of Canada announced new mortgage rules (which will take effect July 9, 2012) in an effort to control the climbing household debt levels and cool what many believe is an overheated real estate market. The Bank of Canada reportedly plans to keep interest rates low for the foreseeable future and the minimum down payment amount remains at 5%.

How Do These New Rules Impact You? 
How Will These Changes Impact The Real Estate Market As A Whole? 
What Should You Do?

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