Dec 06 2006
My home, your home or our home
(NC)-When considering your living accommodation after you’re married, there’s nothing quite like owning your own home together. It’s not yours or mine; it’s ours, and maybe a place to start a family.
If you are lucky enough to have received money for a down payment as a wedding gift, or one or both of you owns a house or condo you’re considering selling to trade-up to a family home, it’s really worthwhile talking to a mortgage expert before you talk to the real estate agent. Gathering relevant financial information is your first step to home ownership. Before you fall in love with a home, you’ll want to know that your financing has already been arranged, and the following questions have been answered:
. How much can we afford?
. What’s a comfortable mortgage payment for us?
. What are the additional costs?
. How fast do we want to pay down our mortgage?
In fact, many real estate agents may encourage you to get a pre-approval before they begin working with you; and, when you have your mortgage financing arrangements in place it indicates to prospective vendors that you are a serious buyer. It also gives you the security of negotiating a house price that falls comfortably within your budget.
Consider applying for a CIBC Pre-Approved Mortgage Certificate and shop for your first home together with confidence. You get a guaranteed interest rate for 60 days from the date of the pre-approval certificate (or 90 days if you are considering buying a new construction home), plus the lowest CIBC rate that occurs for that mortgage during the guaranteed period - whether the mortgage rates go up or down.
A CIBC advisor can discuss your specific situation and give you all the information you need, or visit www.cibc.com/mortgages for useful mortgage calculators and articles to help you with your research.
Credit: www.newscanada.com
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