If you’re a first-time homebuyer, you ought to work with a broker who can provide you with personal attention and excellent service. Our knowledge of the mortgage industry will enable a stress-free home buying experience for you. Providing the lowest mortgage rate in Canada and explaining the entire home purchasing process are two of many value added services we provide.
We assist the first-time homebuyer through every step of the mortgage process:
- The Pre-Approval: Find out the mortgage amount and interest rate you qualify for. Our goal is make sure your budget also fits within your comfort zones of affordability. We will also let you know what type of paperwork will be necessary when you find the home of your dreams to help you get organized ahead of time.
- Purchasing the Home: Make sure to include a condition day; give yourself at least one week to finalize all financing. Using this time to have a home inspection is a great idea!
- Paperwork: Our Mortgage Specialist will meet with you to sign your mortgage commitment, collect all necessary paperwork and answer any and all questions you have concerning the terms of your new mortgage.
- Closing / Lawyer: All paperwork will be sent to the solicitor of your choice.
Each mortgage application is unique; making it a smooth and seamless process is what the Mortgage Specialists at Cheryl Wilkes Mortgages do best. Fill out our easy to follow online mortgage application and let us help you make owning a home the experience of a life time!
Things to Note:
You as a first time home buyer have an advantage no one else in the real estate market gets. You can access your RRSP accounts for your down payment. Standard rules states that any monies that have been in your RRSP account for longer than 90 days can be withdrawn with no penalties towards the purchase of your new home! The program also allows you to pull up to $25,000 and gives you 15 years for those funds withdrawn to be re deposited. Monies withdrawn are registered through CRA with your tax returns so you do not have to figure out how much per year much be put back into the account. Canada Revenue does it all for you!
You are also eligible for a tax credit in the same tax year as you purchase.
For more information about first time buyers options please visit the link before for CHMC information.