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17 Mar

6 Things To STOP PAYING RENT and OWN YOUR OWN HOME INSTEAD…

General

Publié par: Antonietta Gaudet

…and what you need to know to get you started toward buying your 1st home!

People fear what they don’t understand.  A good example is the purchase of a home.  The average consumer knows very little regarding the home buying process.  Between finding the right house, making sure it won’t fall apart the day after it is purchased, and finding the best financing, it is no wonder that so many people are afraid to purchase homes. 

Buying a home is one of the most important financial decisions an individual will make.  For a first-time homebuyer, the decision to purchase a home can be daunting.  It will represent a major step forward as the individual/family will be assuming potentially its largest responsibility.  As with any major decision, it is important that everyone, especially first-time homebuyers, take full advantage of the information and training that is available to more clearly understand the home buying process.

To prepare, you should do research and be fully informed before beginning the search for a dream home.  Here are six steps to get started:

STEP 1: Before you start your house search, think carefully about what it will be like to be a homeowner.  For most people, homeownership can be one of the most significant financial turning points in their lives.  The advantages (tax benefits, pride of homeownership, financial investment) far outweigh any drawbacks.

STEP 2: Your credit history is one of the first things a lender will look at in making a decision on your loan.  Visit www.equifax.ca to obtain a credit report.  Review it carefully to be sure all the information is correct.  If you find discrepancies, you should work with the credit agencies to resolve them.

STEP 3: Saving for a down payment can be one of the biggest barriers to homeownership.  Mortgage lenders recognize this dilemma and many now offer low down payment loans.  Five percent is usually the minimum requirement for a down payments.

STEP 4: Before you begin working with a realtor, find a mortgage broker you can trust and ask them to pre-approve (not prequalify) you for a mortgage.  Getting a pre-approval is easy. You just call a mortgage broker, provide some basic financial information, ie. documentation to confirm your employment, the source of your down payment and other aspects of your financial circumstances.

Most lenders will provide this service free of charge.  Pre-approval will let you know exactly how much you can spend on a home purchase BEFORE you start your search.  A preapproval in hand also makes you a more attractive buyer when you are ready to make an offer on a home.  Home sellers are more likely to accept an offer from a buyer who can demonstrate the ability to secure financing.

STEP 5: Many mortgage lenders, nonprofits, and even realtors offer homebuyer education guides to prepare you for homeownership.  Some of the topics covered are how to apply for a loan, find the right realtor, make an offer on a home, and the advantages and responsibilities of homeownership.

STEP 6: The mortgage broker vs. banks and mortgage companies. A mortgage broker has many different banks, savings and loan companies and mortgage companies that they “broker” their loans to, something like a stockbroker or independent insurance agent.

Since a mortgage broker does business with lots of banks throughout Canada, they can:

·      Send the loan to many different underwriters   

·      Shop for the best rates and programs

Save you money by not charging loan origination fees

So, what’s in it for you?

You can finds ways to get out of the “trap” of paying rent. 

You are confident that you made the right decisions about your mortgage.

Nobody rushed you into the wrong mortgage program because you had to apply for your mortgage within 3 days of signing your purchase agreement.

Is 3 days long enough for you to make a decision that could last for 30 years?

Your desire to own a home, combined with my knowledge, will increase your chances dramatically.

Most banks want to “cherry pick” the easy ones.

Not me, because I have so many more options than they do.

Well, I hope I got you thinking.

You probably have some questions.

However, we guarantee that you can save thousands of dollars.  Your time is precious too, so we won’t waste that either.

We can give you a detailed analysis of how much you will save by owning instead of renting.

Please give me a call while this is fresh on your mind and you are excited about the possibilities.

Even if you are skeptical, which is only natural, a phone call can’t hurt.

The worst that you will do is spend a few minutes learning.

The best you can do is have “peace of mind” and save yourself lots of money.

Or, if you wish, we can send a pre-approval package out to you today, or fax information to you.

What are you waiting for…give me a call and lets get started!

Antonietta Gaudet (250) 218-2184 (call or text)   
 
Fill out an application today!
               

P.S. Think about it.  Now is the time to escape from endless rent payments. We can mail you a Pre-Approval Kit to get you started on your road to homeownership today!

P.P.S. More people who are renters now qualify to become a homeowner.  Don’t let fear or ignorance stand in your way.  Our job is to educate and advise you.  Call us today to take one step closer toward realizing your dream of one day becoming a homeowner.