Ten steps to home.

Dreaming of celebrating the holidays in your very own home? Maybe it’s not as far away as you think. In fact, you might be just ten steps away!

1. Start off on the right foot and talk to a professional mortgage broker: that’s me! I can help you determine if you’re ready to buy, or give you some tips on how to get ready!
2. I’ll let you know how much home you can comfortably afford.
3. Work with an experienced realtor to find your home.
4. Find your perfect home and make an Offer to Purchase that is subject to financing.
5. Gather up the documents to support your mortgage request.
6. Get your mortgage approval, waive your financing condition, and sign your mortgage commitment.
7. Don’t make any significant changes to your income or debts before getting possession of your home.
8. Meet with your lawyer approximately a week before the house becomes yours to finalize everything.
9. Arrange for home insurance.

10.  Walk in your very own front door!

Now that you’re home, I will help you make the most of your home ownership with tips to help you manage your mortgage, and power down your debt as quickly as possible.  Call today! You’re probably just ten steps from home!

Appraisal or Home Inspection… what’s the difference?

Often in a home purchase, home inspections and appraisals are both common practice. So what’s the difference?

A home inspection is often a condition of a purchase and is usually done to protect the homebuyer. A qualified home inspector will assess the physical condition of the home and all of its major systems to help you determine if everything is in good working order. You typically receive a schedule outlining what repairs are needed and by when.  

An appraisal is an objective assessment of the home’s value to confirm that the property is suitable as security for the mortgage. This is rarely a problem, but lenders and insurers take on their own financial risk, and they want to feel confident in the property before they approve the mortgage.

Good Debt. Bad Debt.

There is such a thing as good debt.  Good debt is temporary, manageable debt that can bring you closer to your financial goals. It includes a well-structured mortgage, or borrowing to invest when it is designed to improve your overall financial position.

Bad debt gets in the way of building long-term wealth, and creates an ongoing burden that ranges from uncomfortable to crippling.  It includes credit cards, high-interest loans, and any of the dreaded “buy now/pay later” purchases. If you have some bad debt behaviours, call us for some professional mortgage advice. A mortgage is still the lowest-rate loan. If you’re borrowing – for any reason, including organizing your current debt – please let me know!