You have already found a home.
Now let us help you find the right mortgage. A good mortgage is more than a great rate. There are other factors to consider, such as: How often you would like to make your payments ex: Weekly, Bi-Weekly etc. fixed or variable rate, the length of term you require and so on. Most of this is all new and can be over whelming, that’s why all you have to do is email or call One of First Mutual Mortgage’s many qualified Mortgage Specialists to help guide you through and make sense of this process.

Planning to purchase within the next year?
You're months away from buying your new home. Now there are all kinds of things for you to consider, how you're going to come up with your down payment, how much you can afford to pay for your mortgage each month, and how you're going to handle your closing costs.

Our tools and calculators can help you answer some of these questions.

We can customize a mortgage to fit your needs. We can also advise you on ways to handle all the expenses that come with purchasing your first home.

Saving a down payment to buy a home?
You may be closer than you think to owning the house of your dreams. Not sure about your down payment, closing costs and other expenses, we have a host of solutions. Such as, using your RRSPs to Buy a Home.

You can use your RRSP to help with your down payment on your first home through the federal government's Home Buyers' Plan?  You can withdraw up to $20,000 per person and use the money towards your down payment, without a tax penalty as long as you repay the withdrawn funds within the next 15 years.

Related costs to buying a home.
First, you have to make sure you have enough money for a down payment.

To qualify for a conventional mortgage you will need a down payment of 25% or more. However, you can qualify for a low down payment insured mortgage with a down payment as low as 0%.

Secondly, you will require money for closing costs (up to 2.5% of the basic purchase price).

You will be responsible for paying the fees and disbursements for the lawyer acting for you in the purchase of your home. You may want to shop around before making your decision on whom you are going to use as fees for these services may vary considerably.

There are closing and adjustment costs, interest adjustment costs between buyer and seller and (depending on where you live) land transfer tax - a one-time tax based on a percentage of the purchase price of the property and/or mortgage amount.

Lastly, you will be required to have property insurance in place by the closing date. And you will be responsible for the cost of moving.

Keep in mind, there will be all kinds of things you'll have to purchase early on - appliances, garden tools, cleaning materials etc. So factor these expenses into your initial costs.

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