5 TOP TIPS FOR AFFORDING YOUR FIRST HOME

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5 TOP TIPS FOR AFFORDING YOUR FIRST HOME
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• Just as with saving for any large expenditure in
  life, when it comes to buying your first home,
  there are things you can easily do to help your
  money pot grow larger, and to make decisions that
  will not have a negative impact on your future
  finances.
• Here are 5 top tips for affording your first home
  and getting your foot firmly on the property
  ladder

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• Think carefully about location
• Many of us are drawn towards buying central
  properties because we believe them to be more
  convenient, or even more fashionable, but we
  often pay a hefty price for the privilege.
  Typically, central properties are a lot more
  expensive, and you rarely get as much for your
  buck as you do when you step outside of the
  downtown core area.
• There may be many more affordable housing options
  on the city fringes, and once youve researched
  public transport options, youll probably find
  that you can easily and quickly get to where you
  want to go with minimal hassle.

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• Engage with a mortgage broker
• As professionals who dedicate their lives to
  finding great mortgage deals for their clients, a
  mortgage broker should be one of the first people
  you speak to when thinking about buying your
  first home. Not only can they get you some great
  deals through their extensive connections to
  various lenders, but they can offer you honest
  advice and guidance to ensure that you dont end
  up paying more than you can afford for a
  mortgage.
• The pre-qualification process can also be
  extremely helpful in highlighting any areas that
  you could improve on to make you more accessible,
  to more lenders. Some of these areas may include

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• Increasing your credit score
• Decreasing or consolidating any existing debts
• Increasing your overall income
• Think about using a co-signor
• While you take steps to increase your personal
  income, consider using a temporary co-signor for
  your mortgage you can devise an exit strategy to
  remove them when necessary with the help of a
  mortgage broker or financial advisor.

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• Could a rent-to-own property work for you?
• RTOs can give you the opportunity to rent out a
  property while you save for a down payment. While
  not an option for everyone, its worth giving
  some serious thought to.
• Make your money work for you
• A financial advisor, and even to a certain
  degree, a mortgage broker, can help advise you as
  to any steps you might be able to take to make
  your money work harder for you while you save to
  buy your first home. Sometimes, it can be hard to
  see where you can save any money, but with some
  smart, savvy decisions and small, simple changes,
  you might be able to save more money than you
  ever thought possible.

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• Carefully consider all your options when thinking
  about buying your first home, and try to be open
  to suggestions provided they come from a
  reliable source, such as a qualified financial
  advisor or experienced mortgage broker. Stepping
  up onto the property ladder is no mean feat, but
  its an exciting one, and working with
  professionals can help the entire process feel
  much smoother and less confusing.

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• Red Key Mortgage is located in Calgary, Alberta.
  We are a boutique brokerage with high volume
  serving hundreds of clients locally and
  nationwide every year. We have a number of
  associates dealing in mortgages as licensed by
  the Real Estate Council of Alberta. As the best
  mortgage broker in Calgary AB, Red Key Mortgage,
  will provide all of your available options from
  the entire mortgage market and allow you to make
  an educated decision where you'd like your
  mortgage to go. Red Key Mortgage works with big
  banks in Canada, as well as over a dozen other
  AAA lenders. Best of all, our services are paid
  for by the lenders at no additional cost to our
  clients. If you are looking for a Calgary
  mortgage broker, contact us today! We can't wait
  to get started.