First-time home buyers in Canada have been forced to rethink their plans with the new mortgage rules in place. With the new rules, it’s more difficult to qualify for a mortgage and get the home you want, which is why you need an experienced mortgage broker now more than ever. First-time buyers are heavily affected by these new rules, the minimum down payment required is still 5%, however to avoid default insurance 20% down is needed, which affects their ability to afford higher priced homes. Unfortunately, many first-time home buyers must lower their expectations in order to be able to afford a home.
Tim’s years of experience and expertise as a mortgage broker makes him the perfect fit for first-time home buyers. Having years of experience working with first-time buyers, ensuring that they obtain the best mortgage solution (which includes the best possible rate) makes him a strong ally while learning the ins and outs of home ownership.
“The rate that Tim had to offer us was well below what the bank was prepared to give us, and so right away we knew that Tim was definitely the best option.”
Jordan Pierson, First-Time Home Buyer
Every homebuyer has different needs and a unique situation. Tim recognizes these differences in each and every client, modifying his tactics to best suit your personal needs. Working for you, Tim keeps your best interests in mind and gets the best rate possible for your individual needs while teaching you the ins and outs of your unique mortgage process.
As a first-time homebuyer it’s not only important to get the best rate possible, it’s also important to understand the process, and be guided through it. Tim prides himself with helping his clients understand the mortgage process, and enabling them with sound advice. With Tim, you’re not just getting great rates, you’re learning how to manage your mortgage and you’re getting a great resource for advice and support while doing it.
With Calgary’s housing market slowing from the oil-fuelled downturn, first-time home buyers are getting an opportunity to slow down in their decision making process. Homes are on the market for longer, allowing homebuyers a little extra time to save up for the home they’ve had their eyes on, and layout their options with some breathing room. Be patient with the new rules, and with your decision process. This is a big decision, it’s important not to rush into it so take advantage of this slow down. The first step in the home purchasing process is to get pre-qualified for a mortgage, so take a breath and let’s get going!
Tim offers complimentary, no obligation meetings to discuss your situation, please call or email to get his expert advice. Contact us today to find out more.