Jump in! Its a golden market for first time buyers.
If you’re a first-time homebuyer, you’ve found the
perfect moment to jump in to home ownership.
Most Canadians face the same dilemma when they’re
gearing up to become a home owner. They’re all asking
themselves the same kinds of questions: How much
downpayment do I need to save up? What do I need to
know about getting the right mortgage? Am I getting in
over my head? Will I be able to get a low rate on my
mortgage… and can I find a house I can love at a
price I can live with?
Good news. The mortgage planning experts at
Mortgage Architects explain that today’s first-time
homebuyers have a golden opportunity right
now. These planners have access to low and even
no-downpayment mortgages – to help first-timers get
into their first home faster. Mortgage rates remain very
low. And housing prices are down from their soaring
values of the past few years. It’s a buyers market;
which makes this a golden opportunity for first-time
homebuyers.
The key to buying your first home is to know your
options. That’s why more and more Canadian firsttimers
are seeking out independent mortgage brokers
– instead of just making a trip to the local bank. A
recent study by the Canada Mortgage and Housing
Corporation (CMHC) found that about 25% of all
mortgages in Canada are now arranged through
mortgage brokers. And among first-time buyers,
that number jumps to 44%.
First-time buyers tend to seek out mortgage planners
because they are thinking hard about a big financial
decision. This generation of homebuyers is very
about seeking out options. They don’t feel like they’re
tied to a particular bank. No one “owns” them, in
their view.
The fact is that independent mortgage planners – like
those at Mortgage Architects – have access to a huge
range of lenders, and can give the homebuyer insight
into who has the lowest rates, or who has a special
option or feature that could be a perfect fit with the
homebuyer’s needs. It’s partly about “shopping” rates,
but it’s also about taking a more holistic view of how a
mortgage fits into the client’s overall financial picture.
If you’re considering a home purchase – or wondering
if you’re ready to jump in to the market – then your
first stop should be to a mortgage planner. They can
assess your situation to determine whether you’re
ready to buy, and can pre-approve you before you
start shopping for a home.
While it’s important to be prudent, many first-time
homebuyers are actually too cautious about getting
into the market. In fact, mortgage planners often shock
those clients by showing them that they could have
been building equity for the last few years – rather
than paying someone else’s mortgage with their
rent money.
Today, first-time homebuyers have that perfect
combination of low rates, sensible housing prices, and
an excellent range of downpayment and other options.
No question, it’s the perfect time to jump in.
ray@raysilvestri.com
Ray Silvestri AMP
Agent #M08002781
Mortgage Planner
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