10 Mortgage Tips for Canadian Home Buyers - Need to Know

10 Mortgage Tips for Canadian Home Buyers - Need to Know. How to get the BEST MORTGAGE RATE, tips on how to get a LOW MORTGAGE RATE

10 Mortgage Tips for Canadian Home Buyers - Need to Know video duration 3 Minute(s) 3 Second(s), published by Huber Mortgage on 12 03 2019 - 10:36:09.

https://hubermortgage.com/free-ebook/ 10 Mortgage Tips for Canadian Home Buyers - Need to Know This video outlines 10 things that Canadian home buyers https://www.brandonjwebb.com/ - We have some of the lowest rates in the market! Shop us and I will (99.9%) beat any other pricing.

Should you get pre-approved or pre-qualified by a mortgage professional before shopping for a home? We break it down, tell you which one to get and explain . How to shop for the best loan? How to get the BEST MORTGAGE RATE? these are some tips on how to get a LOW MORTGAGE RATE
If you are thinking about .

https://hubermortgage.com/free-ebook/

10 Mortgage Tips for Canadian Home Buyers - Need to Know

This video outlines 10 things that Canadian home buyers need to know. For further information on these subjects, visit my Youtube channel Huber Mortgage for more detailed videos or download the ebook at HuberMortgage.com

Alright, let’s get to it
First thing - Get approved for a mortgage. Saves you stress and time. You know exactly how much you can afford before you go shopping.
Next - Understand your mortgage contract. Most people don’t and it costs them thousands of dollars. In fact, 65% of Canadians with a fixed mortgage will pay a penalty. And some of the penalties are brutal. Ask your mortgage broker ot help you avoid paying a penalty.
Next point - learn how to pay down your mortgage fast. Understanding these techniques could save you up to $80,000 in avoided interest costs
Number 4 - Consider buying a home with a rental suite. The income produced will help you qualify for a larger mortgage/nicer home, you can use the rental income to build a property maintenance fund, pay down your mortgage fast and build an investment account.
Next - Hire a great realtor. If you’re buying a property, using a realtor is free. They have access to the market, will negotiate a better deal and can help you pinpoint your ideal property.
Number 6 - Where to buy? The old adage is true. Location is so important. Location determines whether appreciation or depreciation in your property value is likely to occur.
Number 7 - Obtaining a down payment - you can save up your own funds, partner on a deal with an investor or receive a gift from a close family member. Minimum down payment in Canada is 5%. Ask Huber Mortgage about using your TFSA, RRSP, the BC Home Partnership Program and other ways to obtain your down payment.
Next - do you know someone who will co-sign for you. Typically this is a close family member. These days, with mortgage stress tests and higher interest rates, it is often necessary to work with a co-signer to get your deal financed.
Number 9 - You may have to pay a property transfer tax. Depending on which province you are buying in and whether you are a first time home buyer, this tax can be a surprise if you are aware of it. Get informed! It has to be paid up front!
Finally - have a long term plan. Is this your starter home? Forever home? Will your job potentially require you to move within the term of your mortgage? Having a clear understanding of your long term goals will save you regret and money down the road.
Download my ebook for 10 mortgage and investment strategies aimed to keep more money in your pocket!
Subscribe to my YouTube channel Huber Mortgage
Michael Huber, Professional Mortgage Broker Kelowna British Columbia Canada
Huber Mortgage Kelowna
Member of the Verico Compass Mortgage Group
Videos filmed and website created by Kodiak BC https://www.kodiakbc.com/