Calgary Real Estate for first time home buyers with a complete “Step by Step Guide” to home ownership. Don’t let the process of buying your first home overwhelm you, it is an exciting milestone step in your life that doesn’t have to be stressful. Buying your first home can be a relatively painless process if you work with a Calgary real estate agent who is experienced in working with a first time home buyer.
At CalgaryFirstHome.com it is our goal to assist you to find your first Calgary home or condo when the time is right for you. It could be now or months down the line, we are here to answer all your questions as needed and be here for you when you are ready no matter when that might be.
In the pages to come we go through in more detail some of the requirements for a Calgary first time home buyer, but as a general place to start, you should be looking at your down payment options and your affordability.
The minimum down payment in Canada is 5% down, however there are a number of different options where this money can come from. It can come from an Registered Retirement Savings Plan (RRSP), Savings, Gift, and in some cases you can even borrow it from a lender ( credit line, credit card or personal loan) or a combination of these options. It is advisable to start your first time home buying process by discussing it with an experienced mortgage professional. Determining monthly payments and affordability goes in line with your financial picture and can also be evaluated by an experienced lender. It is important to establish a pre approval as the very first step in buying your first home. This will enable you to know exactly how much home you can afford, the payments that are comfortable etc. and it takes the guess work out of the house hunting process as to whether or not you qualify for the home of your dreams. Having a pre-approved mortgage gets you ready for the next step.
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