Buying a house for the first time can feel intimidating, but it can and should be a fun and exciting journey. You should be looking forward to the thrill of finding the perfect home, the joy of being approved, and the excitement of finally getting the keys to your very own home. I’ll make sure that these are the feelings that dominate your home buying experience.
Let me handle the details, shoulder the stress, and worry about the specifics. I’ve done this hundreds of times. I’ll put your mortgage on my mind. You can focus on finding your perfect first home.
First-time homebuyers often have limited available funds even when factoring in a down payment, and I know how important it is for them to get the most out of their investment. My approach is to leave no critical detail overlooked when helping you close a deal on your first home – that way, there are no unwanted surprises. Only the good ones, such as crossing the threshold at a competitive rate. You deserve the best possible solution, ensuring the day you receive the keys is one to remember for the right reasons.
Unsure whether you’re eligible for tax credits or other incentives? Let me take a look and find out for certain. The same applies to any eco-friendly credits if the property you purchase is eligible. As for mortgage rates, I’m happy to shoulder the hard work and secure you the best rates possible. This can especially be important for condos as their association fees go against your preapproval amount. If you need a negotiator who puts in the effort to deliver true value to your first home mortgage, you can count on me.
The right mortgage for you may be a different mortgage than the one that is the right one for your parents, colleagues or friends. It’s important to be sure that your unique financial situation is reviewed and a mortgage product is chosen specifically for you. When working with me I will align my work with the best mortgage for your needs. I review your income, closing date, the type of property you are looking to buy, your current assets and liabilities and so on to help determine the right mortgage for you. I can help you determine your maximum purchase price and ideal down payment in addition to finding you the best mortgage rates in Ottawa Ontario. Furthermore, I can help with budgeting to assure that the mortgage payment will work with your budget. When looking for a mortgage, some customers, unfortunately, get overly focused on an interest rate. However, it’s good to look at the mortgage options as well. Some mortgages with lower interest rates are more restrictive or have higher penalties than other mortgages.
I’m proud to have helped fund well over 2,000 mortgages in the last 15 years, accumulating well over $600 million in mortgage volume to boot. With over 40 lenders readily available including major banks, I’m serious about fostering and maintaining lasting relationships with each. Above all else, however, I’m here to help you find the best possible value so you can cross the threshold with peace of mind. Not just any mortgage is good enough – it needs to be one that puts you first.
In Canada, there are different incentives in programs to assist you in buying your first home:
The amount you need for a down payment when buying a home in Ottawa can vary, but the standard minimum requirement throughout the country is:
However, it’s essential to keep in mind that a larger down payment can offer advantages, such as lower mortgage insurance premiums. A 20% down payment is often considered ideal because it allows you to avoid mortgage default insurance.
Your specific down payment will depend on your financial situation, the home's purchase price, and your mortgage lender’s requirements.
First-time homebuyers have various mortgage options to choose from, catering to different financial preferences and risk tolerances. For example, a fixed-rate mortgage offers a stable interest rate throughout the term, providing predictability in monthly payments. It’s ideal if you prefer budget certainty. With a variable-rate mortgage, your interest rate fluctuates with the market—which means it can rise and fall over your term.
To explore your mortgage options as a first-time homebuyer, I can shop around on your behalf to find a fit that works best for your needs.
When choosing the right neighbourhood for your first home, it’s crucial to consider different factors, all contingent on your preferences and priorities:
