8 Mistakes to Avoid if You’re a First-Time Home Buyer
Posted by Terry Paranych on
Are you thinking about buying your first home? Here are 8 common first-time buyer mistakes to avoid.
Mistake #1: Not Getting Pre-Qualified
Pre-qualifications are important because they give you an idea as to how much home you can afford. During this process, a lender will examine your income, debt, credit and assets and give you a rough estimate as to how much they’d be willing to lend you. From here, you’ll know what you need for a down payment and what you can expect to pay for a monthly mortgage loan.
Mistake #2: Not Checking Into First-Time Buyer Programs
The Government of Canada offers several incentives for first-time homebuyers in the form of down payment help, tax credits and more. These include:
· First-Time Home Buyer…
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