FIRST TIME HOME BUYERS.. WHAT YOU NEED TO KNOW?
Are you planning on buying a home for the first time GTA? If so you’re not alone.
It is still a great time to buy a home because mortgage interest rates are still low which have made it ideal for first-time homebuyers to purchase new homes across the GTA.
We recommend sitting down with a qualified professional to discuss your specific situation, but here are some basics that a first-time homebuyer should know about getting ready when buying a home.
Check Your Credit Score
One of the biggest problems that many first-time homebuyers face when buying a new home is that they have absolutely no idea what their credit score is because they haven’t checked their credit score in years, or they’ve never checked it at all.
To verify what your credit score is before buying a home you should purchase a copy of your credit report.
The recommended credit score for buying a house is 680+.
Check Your Mortgage Affordability
Once you decided to buy a home you should also decide what mortgage payment you can really afford and what other expences will occur when you start owning a home.
Down Payment Requirement
Calculate how much downpayment you require to buy a house you are looking for.
What are additional costs if you pay less than 20% of your home value?
How much minimum down payment is required for mortgage approval?
Our Team of professionals help you through the complete process of searching a home to start owning it.
We take into consideration your financial and credit stats and guide you the process of owning a house accordingly.
SO HIRE A TOP CLASS REAL ESTATE AGENT WHO WILL INVEST IN YOUR FUTURE