Buying your first home is an exciting and important life event, and for most people will be the largest single purchase of their lifetime.
Being a first time home buyer means that you will have many decisions to make, not the least of which is where do i get my mortgage from. The QRM mortgage team is highly specialized in getting your mortgage approved as quickly & easily as possible.
The first most logical step is to find out how much you can be "pre-approved" for. This process looks at your current income versus your monthly payments and proposed mortgage payment to determine your debt service ratio.
With your permission, your mortgage specialist will also access your credit bureau to be sure that when you do find your dream home there will be no surprise delays in securing your mortgage financing that could put getting that home in jeopardy.
You have multiple downpayment options when it comes to buying your first home. Up until only a few years ago, the minimum down payment was 5%, but now you can buy a home with zero down or 100% financing. The only costs that you will incure will be closing costs such as legal fees, land title registration and home inspections etc.
