Buying Your First Home

First-Time Home Buyer Raymond Walia 19 Feb

If you’ve decided to take the plunge, you now need to start by figuring out what you can afford. Fortunately, there are all kinds of calculators and tools available. A great place to start is the free My Mortgage Toolbox app which can help you find a mortgage professional in your area. A mortgage professional is a great […]

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Do You Know The Costs?

First-Time Home Buyer Raymond Walia 19 Feb

There are two major costs associated with home ownership – let’s make sure you’re ready to take it on! Upfront Costs: The initial amount of money you need to buy a home, including down payment, closing costs and any applicable taxes. Ongoing Costs: The continued cost of living in a home you own, including mortgage payments, property […]

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Are You Ready For Home Ownership?

First-Time Home Buyer Raymond Walia 19 Feb

Before you jump on in, there are some things you should ask yourself. As amazing as it is to be a first-time home buyer, it is important to remember that this is likely the largest financial decision you will ever make. There are a few questions you can ask yourself to make sure you’re ready […]

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Overview

First-Time Home Buyer Raymond Walia 19 Feb

Being on the path to purchasing your first home is one of the most exciting and most rewarding moments in life! While people don’t always dream of the perfect mortgage, we do grow up dreaming of a white picket fence and our dream home. Even if you imagined your dream home as a 6-bedroom mansion, […]

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Start Shopping!

Planning for a Mortgage Raymond Walia 19 Feb

You made it!! Once you have your down payment and have qualified for a pre-approved mortgage (your credit score is in order and all documentation has been provided), you are ready to start searching for your perfect home. Your Mortgage Professional can give you recommendations for a realtor, if you don’t have one already. CLOSING […]

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Get Pre-Approved!

Planning for a Mortgage Raymond Walia 19 Feb

To have the best success with your mortgage, it is recommended that you get pre-approved! This can be done through your Mortgage Professional to ensure that you get the best mortgage product FOR YOU, from the best rate to the best term agreement. While getting pre-approved might sound boring (and you might be asking ‘why […]

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Have Your Paperwork In Order

Planning for a Mortgage Raymond Walia 19 Feb

When you apply for a mortgage you will typically need to provide a standard package of documents, which almost always includes: Your government-issued personal identification One month of recent pay stubs from any applicants who will be listed on the loan Letter of employment Your most recent two years’ worth of personal CRA tax filings […]

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Understanding Your Mortgage Options

Planning for a Mortgage Raymond Walia 19 Feb

When it comes to mortgages, there can be a lot to know! Do you go with a fixed-rate mortgage or a variable-rate? What are the terms? What are the penalties? Which is the best payment frequency? With so many questions and so many lender options, it can be hard to find the best solution for […]

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Secure Your Down Payment

Planning for a Mortgage Raymond Walia 19 Feb

For those of you who don’t know, your down payment is the amount of money you need to put down on your new home. Once you have determined your budget, you will have an accurate idea of the final cost of the home you can afford and what you will be intending to spend. This […]

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Determine Your Budget

Planning for a Mortgage Raymond Walia 19 Feb

Now that we have talked credit, it is time to consider budget! We know, we know… but we promise, you’re almost there! When talking budget, it is important to consider the purchase price budget, as well as your cash flow budget. Being house rich and cash poor makes for a no-fun home! The home price […]

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