First-time Buyers:
If you are a first-time buyer, some additional options are available to you such as the use of RRSPs for your downpayment and Land Transfer Tax rebates if purchasing a newly constructed home. It is a good idea to get pre-qualified for a mortgage. This will let you shop for houses with confidence, as you will have a good idea what kind of a home you can afford. Your mortgage broker will be happy to assist you with this.
Repeat Buyers:
As a repeat buyer, other issues may surface when looking to purchase another home. Such issues may include mortgage penalties if you are breaking the mortgage before it is due. Also, assumability and portability options of your existing mortgage should be investigated. Answers to these questions can be obtained from your existing lender.
General Items:
You may also want to consider some of the following: Find a good lawyer to advise you through the purchase and mortgaging process. As New Home Offers tend to be lengthy and convoluted, have your lawyer review the Offer before you sign it. Also, find a real estate agent that is reputable and that you trust.
If you are a first-time buyer, some additional options are available to you such as the use of RRSPs for your downpayment and Land Transfer Tax rebates if purchasing a newly constructed home. It is a good idea to get pre-qualified for a mortgage. This will let you shop for houses with confidence, as you will have a good idea what kind of a home you can afford. Your mortgage broker will be happy to assist you with this.
Repeat Buyers:
As a repeat buyer, other issues may surface when looking to purchase another home. Such issues may include mortgage penalties if you are breaking the mortgage before it is due. Also, assumability and portability options of your existing mortgage should be investigated. Answers to these questions can be obtained from your existing lender.
General Items:
You may also want to consider some of the following: Find a good lawyer to advise you through the purchase and mortgaging process. As New Home Offers tend to be lengthy and convoluted, have your lawyer review the Offer before you sign it. Also, find a real estate agent that is reputable and that you trust.