By: Victoria Carter


Tags: stop paying rent in ajax, Own your home in Whitby, courtice your first home, why rent when you can own, stop renting in oshawa, own than rent, First home in brooklin, own than rent in bowmanville 


Don’t Pay Another Cent in Rent to Your Landlord ...
 It’s a dream we all have—to own our own home and stop paying rent. But if you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. 

Don’t Feel Trapped Anymore
 It doesn’t matter how long you’ve been renting, or how insurmountable your financial situation may seem. The truth is, there are some little known facts that can help you get over the hump, and transfer your status from renter to homeowner. With this information, you will begin to see how you really can:
-save for a down-payment;
-stop lining your landlord’s pockets; and
-stop wasting thousands of dollars on rent.

Little Known Facts That Can Help You Buy Your First Home
1. You can buy a home with much less down than you think. 
There are some government programs (such as the first time buyer programs) to help people get into the housing market. You can qualify as a first time buyer even if your spouse has owned a home before as long as your name was not registered. 

2. You may be able to get your lender to help you with your down-payment and closing costs.
Even if you do not have enough cash for a  down-payment, if you are debt-free, and own an asset free and clear (such as a car), your lending institution may be able to lend you the  down-payment for your home by securing it against this asset.

3. You may be able to find a seller to help you buy and finance your home.
Some sellers may be willing to hold a second mortgage for you as a “seller take-back”. In this case, the seller becomes your lending institution. Instead of paying this seller a lump sum full amount for his or her home, you would pay monthly mortgage installments.

4. You may be able to create a cash down payment without actually going into debt.
By borrowing money for certain investments to a specified level, you may be able to generate a significant tax refund for yourself that you can use as a down-payment.

5. You can buy a home even if you have problems with your credit rating.
If you can come up with more than the minimum down-payment, or can secure the loan with other equity, many lending institutions will consider you for a mortgage. Alternatively, a seller take-back mortgage could also help you in this situation. 

6. You can, and should, get preapproved for a home loan before you go looking for a home.
Preapproval is easy, and can give you complete peace-of-mind when shopping for your home. Mortgage experts can obtain written preapproval for you at no cost and no obligation, and it can all be done quite easily over the phone. More than just a verbal approval from your lending institution, a written preapproval is as good as money in the bank. It entails a completed credit application and a certificate which guarantees you a mortgage to the specified level when you find the home you’re looking for.

If you would like to learn more about  selling your Durham Region home, please contact TwoMoveYou Real Estate, Victoria Carter and Kirk Rickman, Century 21 Durham Region Realtors, at 905-626-3294.

We service Pickering, Ajax, Whitby, Brooklin, Courtice, Bowmanville, Newcastle, Oshawa, and surrounding area!