First Home Mortgage
Are you purchasing your first home? We’re excited for you, and want to assist you in making decisions that can have a massive effect on your real estate investment dreams.
Whether you’re embarking on a new construction project or purchasing an existing home, our dedicated Professional Mortgage team can help you:
- Determine what you can afford
- Review your down payment options
- Understand all additional expenses associated with buying a home, like closing costs and other potential fees
Tips for first time home buyers:
- There are a variety of down payment assistance options available to you, including using your existing RRSP through the Home Owners Plan, or using a Gift as a down payment.
- If you are buying the home as your principal residence, the minimum down payment is as follows:
- 5% up to $500K
- 10% from $500K to $1 million
- 20% for properties over $1 million
- Terms are available from six months to ten years, with open or closed options.
- Amortization periods are available up to 35 years.
- There are no minimum or maximum mortgage amounts.
Call Cal LeGrow today to speak with a mortgage expert.