Purchasing a Home

First Time Home Buyers


Purchasing a Home.

Shopping for a new home is exciting, but the search for the right house within your price range can be exhausting. When you finally find a bargain, someone else has often made an offer by the time you’re ready to commit. It can be an emotional rollercoaster.

A good way to make the house-hunting process a little more pleasant is to pre-qualify yourself for a mortgage first.

Many real estate agents and home sellers won’t seriously consider you as a prospective buyer if you haven’t sorted out your eligibility for a mortgage in the price range of the house they are selling.

A 20-minute phone conversation with a RateMiser Mortgage Advisor is all it usually takes to get a good idea what price range is realistic for you. If you can gather some of the documents that mortgage lenders usually require to verify income, such as T4s and income tax Notice of Assessments, you’ll be ready to enter the real estate market confidently, and avoid those heartbreaking disappointments.

Make a list of must-have and nice-to-have features for your prospective new house. Use the must-have list for screening out the houses in your price range with the right number of bedrooms, etc. Then use the nice-to-have list to choose between the ones that work.

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