Buying your first home can be an exciting, yet stressful time. We understand your concerns and are here to make the first time buying process as easy on you as possible. Here are a few tips on how to get started and finding some great communities that are perfect for first time Buyers. If you have any questions, please don't hesitate to contact us!"

What can you afford? Before you start looking at homes, you need to have some idea of what you can afford. As a general guide, you can purchase a home with a value of two to three times your annual household income, depending on your savings and debts. However, you may be able to take advantage of special loan programs for first time Buyers to purchase a home with a higher value. Click Here for more information on Mortgages.

Familiarize yourself with the area and figure out where you'd like to live. We can provide you a FREE personalized package with community information, school information, and more. Click Here to request your relocation package.

Make a list of your wants and needs. Taking an aerial look at exactly what you need and then comparing it to all of the extras you want will make the decision process go a lot more smoothly and will also keep you on track. Click Here for a Wants vs. Needs Checklist!

Get Approved for a Mortgage. At the present time, first time buyers can purchase a home for as little as 3% down (conditions apply - see lenders for details). Although it may sound complicated, buying a home for the first time is a relatively straightforward process. If you have between 3% downpayment and 20% downpayment, you can apply for a "High Ratio" mortgage. The process is only slightly different than applying for a regular or "Conventional" mortgage (i.e. 20% downpayment or greater). A high ratio mortgage requires high ratio mortgage insurance, or PMI, which is just like any other type of insurance. It insures against risk. It protects the lender against the risk of default of repayment. Because of this, lenders can lend as much as 97% of appraised value (high ratio mortgage financing).

Q: What is the cost involved of obtaining a high ratio mortgage vs. a conventional mortgage?
A: The cost vary from lender to lender. It is best to contact your lender to get the exact amount depending on your type of loan.

Q: What is the difference between applying for a high ratio mortgage and a conventional mortgage?
A: Very little. You still only do one application.

Q: Does the approval process take any longer because it is a high ratio mortgage?
A: Yes. Since there is an additional level of approval that must be granted, the total process will take longer. Again, check with your lender for a more accurate time frame.