First Time Home Buyer Tips

First Time Home Buyer Tips

Buying Your First Home Should Be Fun

Purchasing your first home is one of the biggest life decisions you will ever make and no doubt this can be a stressful time.

It doesn’t have to be all stressful, however, as there are ways to help and you can even have some fun buying your first home. Here are some first time home buyer tips:

First time home buyer tip number one, there is a first time home buyer plan tax credit available to you in British Columbia. If you meet the criteria. the tax credit can help alleviate the overall cost of your home.

Something else that you really should do is get a mortgage pre-approval – this is important as you will then know how much you can afford to spend. This will give you more negotiating power with a potential seller, and also you will know exactly what price range to search, and not set yourself up for disappointment. There is a difference between pre-approval processes, so be careful (and check our link in the hypertext to find out what I mean by “difference”). This is probably the first time home buyer tip that will save you the most time and anguish.

There are many tools at your disposal to help you gain the necessary information required in the process of getting a mortgage, explaining and walking you through the first time homebuyer tax credit, right all the way up to completing your purchase.

We here at can help you get approved with a great rate, and more importantly with the right options that suit your unique needs. We can also ensure you take advantage of the first time home buyer credit available to you.



Guaranteed Rate

With a pre-approval, not only do you know how much you will be able to borrow, but your rate will also be guarantee for 120 days even if mortgage rates go up during this time frame. And if you need a longer rate hold, we can help you with that too. Just give us a call.

Getting pre-approved also tells the real estate agent or seller that you are serious about a potential purchase. This can give you an advantage over other potential buyers, as well as help you during your negotiation.

In short, it ensures that you are taken seriously as a buyer. There are enough resources out there, that you can make these calculations yourself. But you really should contact a professional to make sure you are on the right track.


More First Time Home Buyer Tips

The Mortgage Basics – From Amortization to Variable Rates

In Canada, the mortgage market can be pretty daunting and difficult to understand. It is easy to get frustrated, and therefore very important to remain informed, in order to help ensure you make the right choice for your needs. Our online resources can help you understand the basicterms and definitions, and also find answers to our most frequently asked questions. Our mortgage check list can also you get identify what documentation you’ll need to provide to help ensure a speedy mortgage approval.

Once you’ve done your research and are ready to apply, fill out our secure online application – our mortgage team will get started on your approval right away. Or, contact your local Brokers For Life mortgage associate.


The Role Credit Plays

One of the components of the home buying process is having a good credit rating. A good credit score can help equate to good mortgage rates when you obtain financing for your home. Understanding your credit is an important part of this process and should not be overlooked when buying a home. There are five important factors that go into your main credit rate, and it’s important to know what they are so you can make sure to keep your credit score high. The better your credit score, the better chance you’ll have to securing a great mortgage rate.


First Time Home Buyer Tips

When you are a first time home buyer, it seems as though information is coming at you from just about every angle. Instead of soaking it all up and becoming downright overwhelmed, consider working with an experienced mortgage broker. They’ll help you understand each step at a time and how your choices will impact your long-term goals.

Consider the following tips:

  • Get everything in writing. From financing terms to making an offer, it should all be clearly recorded.
  • Take your time. Don’t rush the process or you could end up with a mortgage you can’t afford.
  • Don’t buy a house you can’t afford. Otherwise, you won’t be a homeowner for very long.


An Experienced Mortgage Broker Can Help

An experienced mortgage broker can help you throughout the first time home buyer process. Consider a mortgage pre-approval, by filling out oursecure online application. Or, you can meet with your local Brokers For Lifemortgage associate. Either way, we’re happy to help your first home purchase be a successful (and fun) experience.

First Time Home Buyer Canada-are they risky

Today’s first time home buyers are well informed, they have their hands around their chequebook firmly and are really thinking before assuming the responsibility of home ownership. The careful planning of these first time buyers today should serve the Canadian housing market well as these responsible first time buyers grow into responsible long term home owners.

First Time Home Buyer Canada Tips To Get Your Mortgage Approved

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The Steps You Should Take as a First Time Home Buyer in Canada

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First Time Homebuyer Co Signor And Guarantor Mortgage

If a buyer is unable to qualify for a mortgage due to poor credit, employment history, lack of down payment or income — most lenders will still consider lending if there is someone that the borrower can find who is willing to act as co-signor or guarantor for a mortgage. These two options have different…


Eligibility Conditions of First Time Home Buyers Plan for Canadian Residents

The government of Canada has introduced a First time Home Buyers’ plan to ease the load that home buying costs may exert upon its residents. The first time home buyers’ plan is a program that allows you to withdraw up to $25,000 in a certain year from your Registered Retirement Savings Plan (RRSPs) for yourself.

First Time Home Buyers Plan

As a first time home buyer in Canada you have the opportunity to use your registered retirement savings plan (RRSP) under the first time home buyers plan, towards your down payment There are some very specific guidelines for this program that first time home buyers should be clear about before buying a home…


Surrey Mortgage Brokers

Without a doubt buying a home or any kind of property accounts to be one of, if not the biggest investment in one’s life. Intuitively, every aspect of the process should be fully thought out, and precautions taken to ensure you are secure and protected. Moreover, before purchasing any property you need…

First Time Home Buyers Tax Credit Tax Deductible Mortgages

Anyone who has started diving into the world of “how do I use a mortgage payment calculator?” or “what are first time home buyer tax credits & what is a tax deductible mortgage” can certainly understand. But it doesn’t need to be the so complicated, even when mortgages and taxes are being combined…


First Time Buyer Myths That First Time Home Buyers Should Ignore

First time home buyers are often intimidated by the home buying process, due largely to myths they have heard from others. Proper education is essential especially today when there are so many options and choices to make as a first time buyer. There are first time buyers who are even afraid to begin…

First Time Home Buyer Tips

Purchasing your first home is one of the biggest life decisions you will ever make and no doubt this can be a stressful time. It doesn’t have to be all stressful, however, as there are ways to help and you can even have some fun buying your first home. Here are some first time home buyer tips…


If you would like more information or a free consultation contact Aleem below, and as a Certified Mortgage Specialist let me help you get the home of your dreams. Great Mortgages, Made Simple
Aleem Peermohamed - Mortgage Broker BC


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