(NC) Buying a house is one of the biggest investments
of our lifetime – and it's a journey that is usually filled with
questions around affordability, impact on savings, and lifestyle
changes.
There are a number of online calculators and tools
that can help answer many of these questions and give you a good sense
of how much 'house' you can afford and what your monthly mortgage
payments will look like. Take a look at these three tips for first-time
homebuyers, courtesy of the mortgage specialists at RBC:
Know how much you can afford – beyond the mortgage amount, don't forget to consider ongoing home ownership costs and your lifestyle needs. Use the How much home can I afford calculator available at www.rbcadvicecentre.com to find out where you stand.
Get a pre-approved mortgage – shop
for a home with confidence and let everyone know you are a serious
buyer. Additional benefits for pre-approval include being able to put in
your offer faster, and potentially beating out another prospective
buyer who hasn't done their homework.
Know your mortgage options – take
advantage of flexible pre-payment privileges to cut years off your
mortgage. There is always more to your mortgage than the interest rate,
so be sure you know what options are available in each mortgage type,
and how they can be used to save you money. Use online tools and
calculators to test out different scenarios.
Additional information, including mortgage tools and tips, is available at
www.rbcadvicecentre.com
www.newscanada.com
No comments:
Post a Comment