| Purchasing your first home can be an overwhelming | | | | If you are taking advantage of the Home Buyers Plan, |
| and sometimes trying experience, whether in larger | | | | you should make sure that you have notified your |
| centers such as Calgary and Edmonton or smaller | | | | financial advisor about your plans to purchase. |
| centers across the nation. | | | | You will then be required to fill out a T1036 form from |
| But with a good mortgage broker finding you the best | | | | Revenue Canada. Your financial advisor or tax office |
| mortgage rates and products to suit your lifestyle, and | | | | can supply you with this form. |
| the information in this two-part article, you'll find the | | | | Receipt of your funds may take some time so it is |
| process is easier than you think. | | | | important that you request your funds early on in your |
| As a first time home buyer, you can take advantage | | | | home buying process. |
| of many programs, including Home Buyers Plan, Gifted | | | | If your down payment is coming in the form of a "Gift," |
| Down Payments, and 100% financing. Regardless of | | | | you will be required to supply proof in the form of a |
| which route you go, there are seven steps you need | | | | letter that states who is gifting you the money and |
| to successfully navigate: | | | | what it will be used for. |
| - Step 1: Get pre-approved | | | | Step 3: Hire an Experienced Realtor |
| - Step 2: Arrange your down payment | | | | Having an experienced realtor guide you through this |
| - Step 3: Hire an experienced realtor | | | | market can make the experience of purchasing your |
| - Step 4: Hire a home inspector | | | | home a lot easier. An experienced realtor in Alberta |
| - Step 5: Have all your documents ready | | | | will be able to help you find the home of your dreams |
| - Step 6: Hire a real estate lawyer | | | | while negotiating the best price for you. |
| - Step 7: Move in | | | | Real Estate agents in Alberta can be found online or |
| Step 1: Get Pre-approved | | | | on the Real Estate Council of Alberta website at |
| A pre-approval is a must in the fast paced real estate | | | | A good local mortgage broker can also recommend |
| market, especially in provinces such as Alberta. | | | | the top real estate agents in major centers such as |
| A mortgage pre-approval will determine the maximum | | | | Calgary and Edmonton as well as smaller centers. |
| amount you will be approved for. It will also hold the | | | | Don't Forget About Part Two |
| interest rate for you while you shop, ensuring that you | | | | Be sure to read Steps 4 through 7 in part two of this |
| receive the best mortgage rates possible when it | | | | article. And if you're still looking for more help with |
| comes time to make your offer. | | | | buying your first home, contact an experienced |
| A knowledgeable mortgage broker can generally help | | | | mortgage broker in your area for more help. |
| you complete a pre-approval in two business hours. | | | | Here's to your new home. |
| Step 2: Arrange Your Down Payment | | | | |