Home Purchases
Curious about the home purchasing process? Here's a step-by-step so you know what to expect!
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Home Purchases
Curious about the home purchasing process? Here's a "how to buy a home" step-by-step guide for you.
Step 1: Evaluate your financial position
The first step is for you to go through your current financial circumstance. Do you currently own? Are you currently renting? Are you comfortable with your current rental payments or struggling to make ends meet? Can you afford more? How much do you have in savings? What can you reasonably put together for a down payment? Does this leave you with money to put aside for closing costs? How's your credit? Have you been diligent about making your monthly payments on time (every time), and keeping your utilization low? Do you have a stable income?
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Once you've had a chance to assess your financial situation, you can establish a budget, and find out what you can realistically afford each month. You can do this using my free Mortgage Planning app: https://www.maapp.ca/app/nadia-bove, or give me a call. I would be happy to help you with this step. This is a great starting point.
Step 2: Reach Out/Book an Appointment
You can choose to fill out the online application, it's quick and easy, or we can fill out the application together during our discovery. Book a discovery call appointment here. If you prefer to meet in person, reach out and we'll find a time and place that works for both of us.​
Step 3: Get Pre-approved
​During our discovery, together we'll go over your financial situation, goals, and future plans. I'll send you a list of documents that we'll need to verify your information for the lenders. These documents will include (but are not limited to) tax returns, income documents, bank statements, and IDs. The types of income documents you'll need to submit will depend on your employment type and down payment source(s), etc. Don't worry, I'll send you a complete list. Once you've sent all your documents to me, I can start working on your pre-approval. Your pre-approval will show you what you can afford/what lender's will approve you to borrow, secure a rate hold, and show sellers and real estate agents that you're a serious buyer.