FIRST HOME HAPPY
Looking To Purchase Your First Home?
Well, you have come to the right place! We are here for you every step of the way! While the prospects of homeownership and the end goal of finding your perfect first home might seem super exciting… we’re not gonna lie, a lot of first time homebuyers find the actual process a little overwhelming. And rightfully so, there is a lot to know! There is so much information out there about what to do and what not to do, and it seems everyone has an opinion about what you should do (and not do). So who do you listen to? How can you be confident about the decisions you are making?
We’re Happy To Help!
Well… that’s what we are here for! The HomeHappy team is a small group of mortgage professionals working together with one goal in mind, to help you find the best mortgage product available to you, while making sure you feel comfortable with the entire process. We don’t believe in a one size fits all mortgage solution, rather we get to know you and your specific goals with homeownership and outline the mortgage products that make sense for you. We do this everyday and have helped thousands of other people buy their first homes! Chances are the reason you are here is because someone told you about us. Have every confidence that we are your “people” and that we will take good care of you.
So how does a mortgage broker work anyway? Here is a great video that explains the basics!
Or if you would like a little more information, let’s talk a bit about the home buying process, here are some of the broad strokes when it comes to the financing of your first home!
When you first decide you want to purchase a home, it is wise to get a pre-approved mortgage. The pre-approval will tell you how much of a mortgage you qualify for, ensuring you are looking at homes in your price range.
Once you know your price range, your realtor will begin researching the available properties and will show you homes that fit your criteria.
Offer In and Accepted
Once you’ve found the home you are interested in, you will make an offer, subject to financing. Your offer may also have other subjects, such as subject to a satisfactory home inspection or subject to review of the strata minutes. Once the offer is accepted, you will provide a copy of the purchase agreement to the mortgage broker.
Lender, Insurer, Appraisal
Your mortgage broker will work with the lender, insurer, and appraiser to get you final approval on the financing. Your mortgage broker may ask you for further documentation at this time. You will want to collect the requested paperwork and submit it to your mortgage broker in a timely fashion.
Once you have met all your financial conditions, your mortgage broker will instruct you to remove subjects with your realtor. Once all the conditions are off, you now have a “firm sale”. You will give your deposit, and instructions from the lender will be sent to the lawyer’s office.
The lawyer is now receiving and preparing mortgage documents. You will want to use this time to start preparing for the move.
The lawyer will call you in to sign, usually about 3-4 days prior to the completion date. The completion date is the day that the money is given to the sellers and the property is transferred to your name.
Usually your possession date will be the day after the completion date. This is the day that you receive keys and can move into your new home.
First Mortgage Payment
Unlike with rent, you pay your mortgage at the end of the month. If the purchase of your home was complete on June 1, and you chose monthly payments, you will not have a mortgage payment until July 1. If you chose weekly payments, the payments will come out at the end of every week. You will receive the details repayments from your mortgage lender.
Now, this is just an general outline of the process, the advantage you have in working with the HomeHappy team is that we will walk through all of these steps with you focused entirely on your specific situation!
Let us know a little bit about you and your goals and we can get started!
Home Buyers Guide
Still not ready to pull the trigger, that’s cool… why don’t you subscribe to our newsletter and download our free complete homebuyers guide! In this ebook we go into great detail to outline what you need to know about mortgage financing. Grab a cuppa coffee, sit back and enjoy. Once you reach the end, give us a shout, we will get started! Oh, and btw, although we would be sad to see you go, you can unsubscribe from our newsletter anytime!
If you are new to the home buying process and enjoy doing research before reaching out, here is a complimentary copy of our Home Buyers Guide!
Simply sign up for our newsletter and your ebook will be waiting for you on the other side! No strings attached.