Home buyer steps
Speak with me and your mortgage associate
Start by speaking with me and your mortgage associate, whether that's at a bank or with a mortgage broker. An early conversation gives you a clear picture of where you stand and what to focus on, even if buying is still a while away.
- With me: what you're looking for, the areas you're considering, your timeline and how the buying process works.
- With your mortgage associate: your income, debts, credit and savings, and what you may qualify for.
- Documents: your mortgage associate will tell you exactly what they need. This often includes ID, proof of income and details about your savings and debts.
Work on your next steps
Work on anything they have told you to do. Everyone's situation is different, so your list may be short or it may take some time. For example:
- Your down payment: continue saving, and ask how much you'll need for the price range you're considering.
- Your credit: build or work on your credit by paying bills on time and keeping balances manageable. Your mortgage associate can tell you what will help most.
- Work-related items: you may be asked for pay stubs, an employment letter or tax documents, along with details about your job.
- Closing costs: besides your down payment, plan ahead for costs such as legal fees, a home inspection and insurance.
- Big changes: check with your mortgage associate before changing jobs, taking on new debt or making a large purchase.
Start looking for your home
Once you're pre-approved, you can start looking for your home with me. Your pre-approval lets you shop with a clear price range in mind. It isn't a final approval, because your lender will still need to review the home you choose.
- Make a plan: we'll sort out your needs and your wants, and decide which homes and neighbourhoods fit best.
- Tour homes: I'll book showings and help you compare your options.
- Make an offer: I'll guide you on price and conditions, such as financing and a home inspection, and negotiate on your behalf.
- Get to possession day: we'll work with your mortgage associate, home inspector and lawyer through to your final walkthrough and getting your keys.
Please note: I am a REALTOR®, not a mortgage broker. This page is general information. For more information about mortgages and financing, please speak with your mortgage broker or the mortgage associate at your bank.