Fiorella Fromager

Why Pay Rent!?
Own your Home Instead

Your decision to step into home ownership can seem overwhelming.

Here are a few basic steps to help get you started:

Visualize Yourself as a Home Owner

Before you start looking, visualize yourself in your new home. What does it look like? What do you want in your home? How much space do you need? Buying your home will be one of the most important financial transactions you'll make in your life. The advantages of home ownership far outweigh renting; such as tax benefits, pride of ownership, and return on your financial investment.

How Much Down Payment do You Have?

You do have options, as some lenders will require no down payment at all. However there are also many ways to come up with funds for your down payment and closing costs. You might consider using your tax refund, using existing savings such as Canada Savings Bond or some of your RRSP. An experienced Accredited Mortgage Professional (AMP) is an excellent resource for information on your options.

Which Lender to use?

An Accredited Mortgage Professional (AMP) has many different banks, mortgage companies and trust companies that they may broker the mortgage to. Much like a certified financial planner or independent insurance agent. Since an Accredited Mortgage Professional (AMP) does business with many banks throughout Canada they can send the loan to different underwriters and shop for the best rates and programs on your behalf, and which suit your individual needs and preferences.

Get a Pre-Approved Mortgage

It's a good idea "BEFORE" you begin looking, to call your Accredited Mortgage Professional and get a Pre-Approved Mortgage* (not a pre-qualified mortgage). This will verify how much house you can comfortably afford and the range of your down payment that you will likely need. A Pre-Approved rather than a pre-qualified mortgage involves verification of your financial information. (*The lender will ask for documentation to confirm your employment, the source of your down payment and other aspects of your financial circumstance.). Having a Pre-Approved Mortgage is to your benefit and often strengthens your offer.

Working with a Realtor - Use A Buyer's Realtor
(The Agency Relationship)

The Buyer's Realtor represents the buyer and has a duty of confidentiality, loyalty and full disclosure to you. So, it's a good idea to take a moment and consider the kind of relationship you might be entering into with a Realtor. The more you know, the more satisfied you will be with the results. The Seller is responsible to pay their commission; not the Buyer. (As regulated by the Canadian Real Estate Association).

Think Mortgage, Think AMP

An Accredited Mortgage Professional (AMP) can sit down with you and review the buying process from start to finish. They offer unbiased professional advice with your best interest in mind.

Think Mortgage, think AMP. An Accredited Mortgage Professional will assist you in finding ways to get out of paying rent and get in to owning your own home.

Fiorella Fromager AMP
Accredited Mortgage Professional

Top of page

Mortgage Rates