Main forum: Tips for First Home Buyer to Choose a Mortgage Broker in Alberta

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Jun 12, 2018 4:42 AM CST
When it comes to buying a home, the first time buyers will have several confusions to make the final decision. So, before choosing a mortgage broker, the main things you should focus on are:

1. Your budget: Start saving for the down payment early. A trusted professional, a broker or a bank could help you understand where you are financially and what you have to work with.

2. Your lifestyle: Find a home which fits your lifestyle You may assume you’ll buy a single-family home, and that could be ideal if you want a large lot or a lot of room. But if you’re willing to sacrifice space for less maintenance and extra amenities, and you don’t mind paying a homeowners' association fee, a condo or townhome could be a better fit.

3. Resalability of the home The time to think about selling your home is the day you buy a home. If you buy a home with good resale value, it should be fairly easy to sell if and when that time comes.

4. Know the builder and the land developer, because the amenities that they provide are going to directly impact the value of your home. 5. Compare mortgage rates Many homebuyers get a rate quote from only one lender, but this often leaves money on the table. Comparing mortgage rates from at least three lenders can save you more than $3,500 over the first five years of your loan. So, choose the best out of all the offers.
[Last edited Jun 29, 2018 2:47 AM CST]
Quote | Post #1288766 (1)

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