Buying a home is likely the largest financial commitment you will ever make. To ensure a smooth journey, you must start with preparation long before you attend your first open house. Before looking at houses, look at your bank statements.
Take advantage of programs designed to help you save faster: what to do first when buying a home
Allows you to save up to $8,000 annually (to a $40,000 lifetime limit) tax-free for your down payment. Buying a home is likely the largest financial
Your score directly impacts your mortgage rate. Aim for at least 680 to 720 to secure competitive terms. You can check your report for free via Equifax or TransUnion . Take advantage of programs designed to help you
The following article outlines the essential first steps for any prospective homebuyer.
Allows first-time buyers to withdraw up to $60,000 from their RRSP tax-free, provided it is repaid over 15 years. 3. Secure a Mortgage Pre-Approval Buying your first home - Canada Life