What’s So Special
Mortgage Tools
Mortgage News
- Condos in the Suburbs Gaining in Popularity
- Part 2 - Differences in U.S. and Canadian Mortgage and Housing Markets
- Differences in U.S. and Canadian Mortgage and Housing Markets - Part 1
- Using a Home Equity Line of Credit to Consolidate Credit Card Debt
- CIBC Chief Comments on Canadian Mortgage and Housing Markets
First-Time Home Buyers
You’re ready to take the plunge and buy your first home. What do you do now? Like many first-time home buyers, you probably have lots of questions about home financing.
At Canadian Mortgages Inc. we can answer your questions and help you find an affordable mortgage that suits your lifestyle and financial situation. Contact us at anytime for a free consultation and you’ll soon have the home of your dreams!
Home Mortgage
From buying, to renovating, to refinancing, to debt Consolidations,
we do it all!
Certified Mortgage Inc Provides Solutions For First-Time Home Buyers
All CMI brokers are certified through the Canadian Association of Accredited Mortgage Professionals. As mortgage brokers we work with lenders on your behalf to negotiate the best terms for you, at better rates than you could get on your own.
All Types of Mortgage Products
- First or second home
- Cottage or vacation property
- Rental property
- New home construction
- Home renovations
Mortgages and Credit History
Many first-time home buyers lack the lengthy credit history preferred by most financial institutions. CMI brokers can help. We can advise and assist you in finding financing through other channels, whether it be a co-signing arrangement or a private lender.
Before embarking on a search for your first home, you should determine what you could afford. Through a free consultation with one of our brokers you can gain an understanding of all of the costs associated with owning a home and get an idea of a suitable price range.
Home Buying Expenses
One of the most common pitfalls for a first-time home buyer is a lack of awareness of the true costs of buying a house. Many will secure just enough financing to pay for the house, only to find themselves coming up short on legal and other fees. Our mortgage brokers will factor in these costs when planning your mortgage. Additional home buying costs can include:
- Deposit
- Mortgage Loan Insurance (If you have less than 20% down, you are usually required to purchase insurance.)
- Home Inspection Cost
- Land Transfer Taxes
- Home Insurance
- Survey – Sometimes required by the lender.
- Legal Fees and Disbursements
- Title Insurance
- Estoppel Certificate Fee (Required for condominium purchases made outside Québec.)
- Cable and phone hookups, moving costs, new appliances and furniture, paint, and so on. Condo buyers also need to consider condo fees.
Contact CMI today for affordable financing for first-time home buyers. You can apply online or book a free consultation to find affordable financing for your new home purchase.
