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Welcome > For Buyers > First Time Homebuyers ...

Buying Your First Home? Real Estate Sales Representatives Are Your Professional Guides. Make Sure You Choose Top Experts.

You might be a bit afraid or intimidated by the whole process of buying your first home. As top Toronto, City Place and Downtown Toronto real estate experts, it's our job to guide you, from beginning to end.

We will take the time to go through each and every step of the buying process. There are no dumb questions!

Together, we will consider:

- How much can you really afford?

- How to qualify for a mortgage.

- How much cash you should put down.

- How to buy a home with little or nothing down.

- What it takes to get approved for financing. What banks and other financial institutions are looking for.

- How much your payments will be.

- The tax advantages of buying.

- Is renting or buying better for you?

Tell us a bit about your situation below. We'll get right back to you. There is absolutely no charge, and we offer this to you with no strings attached.

New to the home buying process? Tell us your concerns. Ask us questions. It's our job to help! There's no obligation, and we promise to get back to you quickly...

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Buyers Remorse >First Time Loans

Most first-time buyers can qualify for a mortgage loan, but they may need help from parents to make the down payment or closing costs on their home. There are loan programs that minimize the down payment and closing costs for first-time buyers. These programs usually require that 3 to 5 percent of the purchase price come from the buyers' funds, not from a loan or gift. Most lenders ask for the last three months' bank records. The borrower will be asked to reveal the origin of any large deposits. If the money comes from the homebuyer's parents, the lender may not consider those funds when qualifying the buyers.

Parents who are planning to help their children finance a home should transfer any funds several months before the house-hunting process begins. If it is a loan rather than a gift, a formal re-payment agreement should be drawn up between parents and children to eliminate potential misunderstandings or future complications with either estate.

	See All Tips In The "Buyers Remorse" Category >
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Q	What weighs 320 tons and is considered the largest single block building?
A	Pyramid of Mycerinus (Third Pyramid) at El Gizeh, Egypt is the largest single block building and the world's oldest pyramid.
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The Leslie Benczik Team, REALTOR®, real estate agents and broker for Toronto, City Place and Downtown Toronto, Ontario home listings, property and land for sale - NUMBER1EXPERT(tm)

Rachel O'Hearn and Leslie Benczik
RE/MAX All-Stars Realty Inc.
2281 Kingston Road, 2nd Floor
Toronto, ON. M1N 1T8
Phone: 416-597-0077
Fax: 416-342-0034
Email: Rachel@MyTorontoCondo.ca
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‡Leslie Benczik, Susan Taylor, Rachel O'Hearn, Alon Hillel, Rosemary Mauro, Tiffany Lee & Frances Kwong

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