Stephanie Coelho Araujo - Toronto Real Estate

Stephanie Coelho Araujo - Toronto Real Estate updated their address.

Are you thinking about buying your first home?🏡 Here are some tips to help you prepare and get the process started!

✧ Check your credit score and work to improve it if necessary. Having a high credit score will help you get approved by lenders.

✧ Contact a mortgage broker and get pre-approved for a mortgage. This will help you determine what you can afford/what your budget is when looking for properties.

✧ Calculate how much money you’ll need to put down.
Less than $500K = 5%
Between $500K - $999,999 = 10%
$1 million or more = 20%

✧ Don’t forget to budget for closing costs (legal fees, title insurance, adjustment costs, land transfer tax, etc).

✧ Figure out what you want/need for your future home. Think about the location, type of property, number of bedrooms + bathrooms, etc. This will help narrow the search.

✧ Call a Realtor (aka me😉) and let them handle the rest!