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Category: First Time Home Buyers (38 posts)

  • October 13, 2018 @ 5:31 PM
  • Posted by Marc Crossman

THE FLEXIBLE DOWN PAYMENT PROGRAM

  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

  • April 6, 2018 @ 10:54 AM
  • Posted by Marc Crossman

4 SIGNS YOU’RE READY FOR HOMEOWNERSHIP

  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

  • February 27, 2018 @ 7:09 PM
  • Posted by Marc Crossman

SIMPLE STEPS TO OWNING YOUR OWN HOME

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

  • February 6, 2018 @ 9:30 PM
  • Posted by Marc Crossman

WHICH LENDER IS RIGHT FOR YOU?

  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

  • December 21, 2017 @ 12:48 AM
  • Posted by Marc Crossman

10 FIRST TIME HOMEBUYER ERRORS

  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

  • November 25, 2017 @ 1:22 PM
  • Posted by Marc Crossman

MORTGAGES AND PAPERWORK

  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

  • November 25, 2017 @ 1:12 PM
  • Posted by Marc Crossman

DOCUMENTS YOU NEED TO QUALIFY FOR A MORTGAGE

    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

  • November 25, 2017 @ 1:05 PM
  • Posted by Marc Crossman

10 THINGS NOT TO DO WHEN APPLYING FOR A MORTGAGE – BUYING A HOME OR REFINANCING

  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

  • September 19, 2017 @ 10:17 AM
  • Posted by Marc Crossman

MORTGAGE BASICS – TYPES OF INSURANCE

           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

  • May 24, 2017 @ 2:01 PM
  • Posted by Marc Crossman

MORTGAGE FACTS TO KNOW BEFORE YOU BUY THIS SPRING

    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

  • April 24, 2017 @ 10:11 PM
  • Posted by Marc Crossman

A CONVERSATION ABOUT MORTGAGE PRE-APPROVALS

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

  • April 19, 2017 @ 2:21 PM
  • Posted by Marc Crossman

THE ROLE OF A MORTGAGE BROKER

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

  • February 2, 2017 @ 10:50 AM
  • Posted by Marc Crossman

10 FIRST TIME HOMEBUYER MISTAKES

  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

  • February 1, 2017 @ 10:54 AM
  • Posted by Marc Crossman

RRSP FOR YOUR DOWN PAYMENT - HOME BUYER PLAN

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

  • January 17, 2017 @ 4:46 PM
  • Posted by Marc Crossman

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

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

  • January 12, 2017 @ 11:01 AM
  • Posted by Marc Crossman

HOME FINANCING SOLUTIONS PURCHASE PLUS IMPROVEMENTS

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

  • January 12, 2017 @ 10:45 AM
  • Posted by Marc Crossman

5 COMMON MISTAKES TO AVOID WHEN SHOPPING FOR A MORTGAGE

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

  • December 13, 2016 @ 9:17 AM
  • Posted by Marc Crossman

TOP 5 REASONS PEOPLE DONT QUALIFY FOR A MORTGAGE

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

  • October 19, 2016 @ 8:41 AM
  • Posted by Marc Crossman

PRACTICE YOUR NEW MORTGAGE

  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

  • October 3, 2016 @ 9:48 AM
  • Posted by Marc Crossman

10 QUESTIONS FOR FIRST TIME BUYERS

  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.  

  • September 28, 2016 @ 1:59 PM
  • Posted by Marc Crossman

POSSIBLE REAL ESTATE SLOWDOWN PROVIDES OPPORTUNITY FOR HOME BUYERS

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

  • September 25, 2016 @ 11:22 PM
  • Posted by Marc Crossman

A COOL CAR, OR A HOME OF YOUR OWN?

  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

  • September 12, 2016 @ 10:58 AM
  • Posted by Marc Crossman

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

  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

  • September 8, 2016 @ 11:31 AM
  • Posted by Marc Crossman

USE OF RRSPS FOR THE DOWN PAYMENT ON A PROPERTY

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

  • July 19, 2016 @ 1:10 PM
  • Posted by Marc Crossman

What Is Mortgage Default Insurance?

  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

  • April 27, 2016 @ 12:50 PM
  • Posted by Marc Crossman

Housing still within reach for first-time buyers

    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

  • April 12, 2016 @ 9:39 AM
  • Posted by Marc Crossman

THE BENEFITS OF A MORTGAGE BROKER

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

  • April 5, 2016 @ 10:05 AM
  • Posted by Marc Crossman

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

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

  • March 29, 2016 @ 5:11 PM
  • Posted by Marc Crossman

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

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

  • March 23, 2016 @ 9:04 AM
  • Posted by Marc Crossman

OBSTACLES FOR FIRST TIME HOME BUYERS

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

  • March 9, 2016 @ 10:11 PM
  • Posted by Marc Crossman

New to Canada and Establishing Credit

  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

  • March 9, 2016 @ 9:50 PM
  • Posted by Marc Crossman

Single Ladies Buying Homes

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

  • March 4, 2016 @ 1:22 AM
  • Posted by Marc Crossman

How to Choose the Right Mortgage Term

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

  • February 29, 2016 @ 11:39 PM
  • Posted by Marc Crossman

Buying vs Renting

  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

  • February 23, 2016 @ 11:12 PM
  • Posted by Marc Crossman

APPRAISAL - 5 TIPS FOR SUCCESS

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

  • January 28, 2016 @ 2:44 PM
  • Posted by Marc Crossman

TITLE INSURANCE CAN BE YOUR BEST FRIEND WHEN PURCHASING REAL ESTATE

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

  • January 5, 2016 @ 9:25 AM
  • Posted by Marc Crossman

A PRE-APPROVAL IS NOT REALLY A PRE-APPROVAL

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

  • September 30, 2014 @ 7:14 PM
  • Posted by

First Time Buyer Plan

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