This past Monday (September 2, 2019) the federal government’s First-Time Home Buyer Incentive went into effect.
Home insurance is never a fun topic. It’s annoying to have to fork out for the premiums, and the only time it pays off is when catastrophe strikes. It feels like one of those necessary evils. A rainy day fund for a day you hope never happens.
Parents take great joy in watching their kids succeed as they grow older – especially when it comes to all of life’s major milestones. Of course, one of the largest of those milestones is seeing them buy of their first home. If you’re looking to help your kids take this important step, here are a few ideas to help you get them on their way to home ownership.
In part one of our series on renting out your property, we measured many of the pros and cons of being a landlord. It’s a good idea to weigh your options from both sides before taking the leap into managing an income property.
You’ve decided to take your first steps into home ownership – congratulations! Buying a home, whether it’s your first or not, is one of the largest investments you will probably ever make. If you feel a little overwhelmed at first, that’s okay!
Here are seven valuable resources for you to use as a first-time home buyer to ensure you receive all the incentives, benefits and help needed in making your purchase a successful one.
You need a minimum of 5% down payment to purchase a home, but you’ve probably heard the more you put down, the better because it will save you more in the long run. In fact, with 20% for your down payment, you don’t have to worry about paying the additional cost of mortgage insurance.
Many home buyers are surprised to learn that the mortgage for a new construction home can be different from a mortgage on a resale home. The differences are subtle, but they’re different enough that some mortgage lenders don’t even offer loans for new homes.
A good credit score is essential when buying a home, and if yours is low, you need to take the right steps to improve it. Your score is based on past actions, and while you can’t change the past, you can make a better choice going forward. Over time, your mistakes will carry less weight.
Preparing to buy a first home can initially seem daunting, and one of the main things a first-time buyer worries about is the process of getting their first mortgage. It’s always a good idea to speak to a qualified lender who can answer questions about your specific situation, but here we’ll break the mortgage process down for you so that you’ll have a good understanding of what to expect.
As you get ready to purchase a new home, it’s important to tackle your credit score head-on. Your score will determine your interest rates, and better rates mean you’ll pay tens of thousands of dollars less over the lifetime of your mortgage.