Mortgage Blog

Category: First Time Home Buyers (56 posts)

Nearly 1 Million Canadians Are Saving for Their First Home!

January 8, 2025 | Posted by: Angela Robinson

Homeownership is a dream many Canadians work hard to achieve, but rising down payment costs and a limited housing supply can make it feel out of reach—especially for younger generations. That&rs ...

Navigating Canada’s Housing Market: The Best and Worst Cities for First-Time Buyers

November 27, 2024 | Posted by: Angela Robinson

Buying your first home in Canada can feel overwhelming. With soaring property prices, rising rents, and the challenge of saving for a down payment, it can seem like an unattainable goal. But the good ...

New to Canada? Your Guide to Renting or Buying Your First Home

July 10, 2024 | Posted by: Angela Robinson

Navigating the Canadian real estate market as a new immigrant can feel daunting, but we're here to help! Whether you’re considering buying or renting, this guide will walk you through the basics ...

Young Canadians Flocking To First Home Savings Accounts

June 26, 2024 | Posted by: Angela Robinson

As home prices soar in Canada, young Canadians are looking for effective ways to save for their first home. The First Home Savings Account (FHSA) is a new tax-free savings account designed to help fut ...

Navigating Canada's Tax-Free First Home Savings Account (FHSA)

May 22, 2024 | Posted by: Angela Robinson

For first-time homebuyers in Canada, saving up for a down payment just got a bit easier with the introduction of the Tax-Free First Home Savings Account (FHSA). However, understanding the intricate ru ...

Exciting News for First Time Home Buyers

March 20, 2024 | Posted by: Angela Robinson

April 1, 2023, marked the launch of Canada’s newest registered savings plan – the tax-free First Home Savings Account (FHSA)! ???? Here are five key things you need to know to make the mos ...

Unlock the door to your new home

August 9, 2023 | Posted by: Angela Robinson

Alberta Mortgage Professionals can assist you if you're considering buying your first property. Whether you're tired of renting and have a down payment saved up or are in a different situation, we sim ...

Eight things to know when buying your first home

August 2, 2023 | Posted by: Angela Robinson

Thinking of buying your first home? Here are 8 crucial things to consider before taking the leap into homeownership! 1) Build Your Support Team: You'll need a reliable ...

Will Canada’s new First Home Savings Account help you become a homeowner?

July 24, 2023 | Posted by: Angela Robinson

This year the government has introduced the First Home Savings Account (FHSA), a fantastic opportunity for prospective first-time home buyers! The FHSA, which began on Apr. 1, is a special sa ...

Mortgage Pre-approval

April 5, 2023 | Posted by: Angela Robinson

Attention Homebuyers! Ready to make your dream home a reality? Alberta Mortgage Professionals can help you find out how much you can afford for your home purchase. Our expert advisors can guide you th ...

How to Buy Your First Home Without Making These Mistakes

March 22, 2023 | Posted by: Angela Robinson

If you’re a first-time home buyer in Canada, there are several things you need to know before starting your search. Purchasing a home can be a daunting task, but it doesn’t ha ...

Should You Move On From Renting?

August 8, 2022 | Posted by: Marc Crossman

Mortgage rates and home prices aren't the only thing on the rise - median monthly rent continues to go up year after year. To escape rising rent, you may want to consider buying a home so you ...

Is it Time to Stop Paying Someone Else's Mortgage?

July 25, 2022 | Posted by: Marc Crossman

If you're currently renting your home, you have probably wondered: is it better to rent or buy? Deciding on the best time to purchase your first home can be a difficult decision, but yo ...

Do Your Homework: Tips for First-Time Homebuyers

June 27, 2022 | Posted by: Marc Crossman

Alberta Mortgage Professional’s Marc Crossman contributed to a Calgary Herald article outlining some expert advice for first time home buyers. See the link below to read the article, or ...

How To Get The Most Out Of Your Home Inspection

February 21, 2022 | Posted by: Marc Crossman

There are a few things that homebuyers can do to ensure that their home inspection process goes as smoothly as possible. Here’s how to get the most out of the process. Find The Right In ...

Tips for First Time Home Buyers

September 6, 2021 | Posted by: Marc Crossman

Buying a house can be a scary and overwhelming experience. Here are some tips if you are buying a home for the first time. Research your builder A good builder cares about your vision for yo ...

Struggling to get a mortgage? Seven tips to help you improve your chances!

August 23, 2021 | Posted by: Marc Crossman

If you’re looking to take the first step onto the property ladder but finding it difficult to get accepted for a mortgage, you’re not alone. New research found only 1 in 5 first time buye ...

But First, Get Pre-Approved!

May 31, 2021 | Posted by: Marc Crossman

If you're considering buying a home, your very first step should be to get pre-approved! Pre-approval determines how much money you will be able to borrow to buy a h ...

THE FLEXIBLE DOWN PAYMENT PROGRAM

April 26, 2021 | Posted by: Marc Crossman

One of the toughest challenges for homebuyers is being able to save money at the rate of property price increases.We know many high-income renters would like to be homeowners, but they’r ...

4 SIGNS YOUâ€™RE READY FOR HOMEOWNERSHIP

January 11, 2021 | Posted by: Marc Crossman

While most people know the main things they need to buy a home, such as stable employment and enough money for a down payment, there are a few other factors that may help you realize you&rsquo ...

SIMPLE STEPS TO OWNING YOUR OWN HOME

December 7, 2020 | Posted by: Marc Crossman

Often, the route to owning your own home can seem like a trip to the moon and back. Really though, it comes down to five key steps: 1 – Manage your credit wisely.If there is on ...

WHICH LENDER IS RIGHT FOR YOU?

November 16, 2020 | Posted by: Marc Crossman

The following is a summary of the choices available for clients when looking at the four different types of lending groups. Which one is best will all depend on who you are as a borrower, what ...

10 FIRST TIME HOMEBUYER ERRORS

October 12, 2020 | Posted by: Marc Crossman

If you’re on the hunt for your first home and want to have a smooth and successful home purchasing experience avoid these common first-time homebuying mistakes. 1. Thinking you ...

MORTGAGES AND PAPERWORK

August 24, 2020 | Posted by: Marc Crossman

Paperwork-it’s a fact of life. You need it and we as mortgage professionals also need it. Below is a list of must have documentation BEFORE you start going through the mortgage approval ...

DOCUMENTS YOU NEED TO QUALIFY FOR A MORTGAGE

August 10, 2020 | Posted by: Marc Crossman

Being fully pre-approved means that the lender has agreed to have you as a client (you have a pre-approval certificate) and the lender has reviewed, approved ALL your income and down p ...

10 THINGS NOT TO DO WHEN APPLYING FOR A MORTGAGE â€“ BUYING A HOME OR REFINANCING

August 3, 2020 | Posted by: Marc Crossman

Have you been approved for a mortgage and waiting for the completion date to come? Well, it is not smooth sailing until AFTER the solicitor has registered the new mortgage. Be sure to avoid th ...

MORTGAGE BASICS â€“ TYPES OF INSURANCE

May 25, 2020 | Posted by: Marc Crossman

In part one of this two-part series, we will look at the types of insurances you will hear about during the mortgage process. Sometimes it is a good idea to r ...

MORTGAGE FACTS TO KNOW BEFORE YOU BUY THIS SPRING

March 30, 2020 | Posted by: Marc Crossman

Buying a home can be a really exciting time, so the last thing we want is for you to be hit by any surprises. Let’s take a look at five things to keep in mind before you write an ...

A CONVERSATION ABOUT MORTGAGE PRE-APPROVALS

March 9, 2020 | Posted by: Marc Crossman

Thinking of buying a property, but don’t know where to start? Well… that’s where a mortgage pre-approval comes in. Start here. Just like you wouldn’t go into a restaurant with ...

THE ROLE OF A MORTGAGE BROKER

March 2, 2020 | Posted by: Marc Crossman

Buying a home is a big step – a big, very exciting, potentially stressful step! How can you take the hassle out of the equation and keep your buying experience super positive? Easy… Surro ...

10 FIRST TIME HOMEBUYER MISTAKES

January 20, 2020 | Posted by: Marc Crossman

If you’re on the hunt for your first home and want to have a smooth and successful home purchasing experience avoid these common first-time homebuying mistakes. 1. Thinking you ...

RRSP FOR YOUR DOWN PAYMENT - HOME BUYER PLAN

January 13, 2020 | Posted by: Marc Crossman

Are you a first time home buyer and looking to use your RRSP’s as a down payment? Here’s a few things you need to know: 1. To use this program you must have not owned a home in th ...

NOW IS THE TIME TO GET PRE-APPROVED FOR YOUR MORTGAGE!

December 23, 2019 | Posted by: Marc Crossman

So 2016 was an exciting year in the mortgage world! The problem is that we mortgage professionals really hate it when things get exciting in our world. Between the economy and the federally mandated m ...

HOME FINANCING SOLUTIONS – PURCHASE PLUS IMPROVEMENTS

December 9, 2019 | Posted by: Marc Crossman

Are you on the hunt for a new home but can’t find exactly what you are looking for? You’re not alone. House hunters experience this scenario every day. With real estate prices increasing y ...

5 COMMON MISTAKES TO AVOID WHEN SHOPPING FOR A MORTGAGE

December 2, 2019 | Posted by: Marc Crossman

Avoid these 5 common mistakes, and you will have no problem getting your mortgage faster, more efficiently, and with a clear understanding of the process: 1. Thinking banks are the first and ...

TOP 5 REASONS PEOPLE DON’T QUALIFY FOR A MORTGAGE

November 18, 2019 | Posted by: Marc Crossman

I receive calls every month from people who want to know how to qualify for a mortgage because they were declined by their bank. In many cases I can help them and in some cases they have to wait &ndas ...

PRACTICE YOUR NEW MORTGAGE

August 19, 2019 | Posted by: Marc Crossman

Practice your mortgage… What exactly do I mean by that? Well, if you’re a first-time buyer and just beginning to explore the housing market, chances are you’re curr ...

10 QUESTIONS FOR FIRST TIME BUYERS

July 29, 2019 | Posted by: Marc Crossman

As a first time home buyer, the process of purchasing a home can seem very daunting. From a financing standpoint, here are 10 common questions I hear from first time home buyers. ...

POSSIBLE REAL ESTATE SLOWDOWN PROVIDES OPPORTUNITY FOR HOME BUYERS

July 15, 2019 | Posted by: Marc Crossman

A slowdown in real estate sales offers an opportunity for potential home buyers to take a breather in what has been an emotionally charged market, according to Dominion Lending Centres Chief Economist ...

A COOL CAR, OR A HOME OF YOUR OWN?

July 8, 2019 | Posted by: Marc Crossman

Thinking of purchasing or leasing a new car? Some quick math for you. A $400.00 payment will reduce your total mortgage qualification by $100,000.00 Ouch. I will confess that I thi ...

FROM PRE-APPROVAL TO GETTING THE KEYS YOUR STEP BY STEP GUIDE

June 17, 2019 | Posted by: Marc Crossman

After diligently saving your pennies and carefully managing your credit to be as strong as possible you are finally ready to start house hunting for that perfect dream ...

USE OF RRSPS FOR THE DOWN PAYMENT ON A PROPERTY

June 10, 2019 | Posted by: Marc Crossman

It is well known that when you are a First Time Home Buyer you can use up to $25,000 from your RRSP without paying any personal taxes. However, you will have to repay any amount withdrawn from you ...

What Is Mortgage Default Insurance?

May 20, 2019 | Posted by: Marc Crossman

One cost that can be overlooked by home buyers is mortgage default insurance. So, what exactly is mortgage default insurance and why do you need it? If you’re buying an ...

Housing still within reach for first-time buyers

March 18, 2019 | Posted by: Marc Crossman

Despite headline-grabbing stories about million-dollar houses pushing home ownership out of reach in Canada’s large cities, there’s still plenty of opportunity for first-ti ...

THE BENEFITS OF A MORTGAGE BROKER

March 4, 2019 | Posted by: Marc Crossman

The next time you’re looking for a mortgage for that new house or you’re up for renewal on your existing mortgage, think about using a mortgage broker – their services are free and t ...

IMPROVE YOUR CHANCES AND REDUCE YOUR STRESS IN A MULTIPLE OFFER SITUATION

February 11, 2019 | Posted by: Marc Crossman

Whether you are a first time buyer, looking at buying a bigger house or downsizing, if you are looking at buying an investment property it is important to be prepared. This spring a sellers’ mar ...

DO YOU KNOW ABOUT THE FIRST TIME HOME BUYERS TAX CREDIT?

January 28, 2019 | Posted by: Marc Crossman

Buying your first home is often the largest financial commitment you will have made and just coming up with the down payment is a difficult task for many! Then there are the legal fees, property trans ...

OBSTACLES FOR FIRST TIME HOME BUYERS

January 14, 2019 | Posted by: Marc Crossman

With mortgage interest rates at historical lows, it is a wonderful time for first time home buyers to take the leap into the market. But there are some considerations and preparations to be made befor ...

New to Canada and Establishing Credit

December 17, 2018 | Posted by: Marc Crossman

When you are new to Canada and establishing credit, deciding on the best way to create a good credit history can be difficult. You need a good credit rating in Canada if you are plann ...

Single Ladies Buying Homes

December 3, 2018 | Posted by: Marc Crossman

It’s becoming increasingly apparent that a greater number of women are now taking the reigns when it comes to home purchases. There’s a growing trend among single women – and, more p ...

How to Choose the Right Mortgage Term

November 26, 2018 | Posted by: Marc Crossman

Understanding the terms of the mortgage are paramount in choosing the mortgage product that is right for your particular and unique situation. What is the difference between term and amortization? Are ...

Buying vs Renting

November 5, 2018 | Posted by: Marc Crossman

At some point in their lives, most Canadians have probably asked themselves whether it is better to buy or rent a home. Purchasing a home is one of the biggest decisions most people ever make ...

APPRAISAL - 5 TIPS FOR SUCCESS

October 29, 2018 | Posted by: Marc Crossman

If a picture is worth a thousand words, what kind of story are the pictures in your client’s property appraisal telling the lender? In the world of broker-driven lending, lenders seldom if ...

TITLE INSURANCE CAN BE YOUR BEST FRIEND WHEN PURCHASING REAL ESTATE

August 27, 2018 | Posted by: Marc Crossman

Nearly everyone will buy a home and, in fact, most people will buy several, moving up from one to another more desirable home. Each time they buy a home, the buyer‘s realtor will requ ...

A PRE-APPROVAL IS NOT REALLY A PRE-APPROVAL

June 18, 2018 | Posted by: Marc Crossman

There is a misconception out there that once you’re pre-approved, you’re good to go. A pre-approval simply means that based on your CURRENT income, expenses, down payment and credit you SH ...

First Time Buyer Plan

May 14, 2018 | Posted by: Marc Crossman

Navigating the world of Canadian home buying Step 1: Figure out how much you can afford. Falling in love with a house you can’t afford can be heartbreaking. Avoid disappointment ...

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Category: First Time Home Buyers (56 posts)

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