Buying your first home can be exciting yet challenging. With expert guidance from first-time homebuyer mortgage brokers in Edmonton, you can navigate the process with confidence. At Sandhu & Sran Mortgages, we provide tailored mortgage solutions to make homeownership more accessible.
A down payment is a crucial part of home buying. If the property costs less than $500,000, a minimum 5% down payment is required, while homes above this amount need at least 10%. If your down payment is below 20%, mortgage default insurance will also be necessary.
Your credit score plays a vital role in mortgage approval. A score of 680 or higher improves your chances of securing better rates. However, our Edmonton mortgage brokers can assist even those with lower scores in finding suitable mortgage options.
Getting a mortgage preapproval is essential before house hunting. This helps determine your borrowing capacity and strengthens your offer when purchasing a home.
The Canadian government offers several first-time homebuyer grants, including the Home Buyers’ Plan, HBTC, and First-Time Home Buyer Incentive.
Trust Sandhu & Sran Mortgages to simplify the mortgage process. Contact us today for expert assistance in securing your first home mortgage in Edmonton.
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