Buying your first home is an exciting process, but it can get a little complicated. This is where a capable mortgage broker, like Brandi Droeske, can make all the difference. We’ll help you get pre-qualified, lay out the purchasing process and offer advice and support as needed.
We’ll take you by the hand and remove the blindfold
A first-time home buyer mortgage implies that you may not have the whole property buying process sorted out, but that’s why we’re here to help you understand everything you need to know.
Don’t stress about what to do; we’ve done this before
While every home purchase is different, the process follows the same general beats. We’ll help you secure the best mortgage rates and send you on the right path to securing your first home.
With access to multiple lenders, we’ll find a mortgage that works for you
One of the key advantages that first-time home buyers get from mortgage brokers is the ability to choose from multiple lenders’ products, which helps them secure the best mortgage for them.
Comparing your finances, credit score, and goals helps determine the mortgage amount you pre-qualify for.
Working with a licensed professional helps you find properties within your budget and expectations.
Finding your dream home is only made sweeter when you know that you can afford it with a pre-qualification.
Making an offer to purchase is the final step in securing your dream home, but be cautious about overextending your finances.
Securing your dream home is a great feeling that usually washes over you when you sign the final documentation and assume ownership.
With the title in your hands and the mortgage approved, the last step is moving into your new home and settling in.
Fixed-rate mortgages offer the security of knowing what you will pay for the length of the term (typically between six months to ten years), whereas variable-rate mortgages are tied to the prime lending rate.
Mortgage brokers work with several lenders at once and may have exclusive offers, whereas banks can only offer their mortgage products.
Understanding the extent to which a first-time home buyer’s mortgage is affected by the down payment amount helps you decide if you are ready for the purchase and what your interest rate will be for the term.
This program, offered by the federal government, offers 5% or 10% of the home’s purchase price to put toward a down payment. This helps lower carrying costs.
This program, offered by the federal government, allows you to withdraw from your registered retirement savings plans (RRSPs) to buy or build a qualifying home.
As a first-time home buyer, you should spend the bulk of your time excited about your first property, not worrying about your mortgage. We help you secure finances so you can focus on the more important parts of the process.
Mortgage loan insurance is a legal requirement of loans with a Loan-to-Value (LTV) ratio greater than 80%. It protects lenders against the risk of borrowers defaulting or foreclosing on the loan.
Conventional mortgages typically have Loan-to-Value (LTV) ratios of 80% or less and do not require mortgage loan insurance. They often have higher interest rates to offset the lack of insurance.
Based on your credit score and finances, a limited time estimate is given for the maximum amount a lender is likely to offer in a mortgage. Pre-qualifications are typically done at the start of the process to help you understand what you can afford and do not necessarily guarantee that the total amount of the funds will be received.
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