Ontario Home Buyer Loans In Hamilton
Home buyers advice and Mortgage Tips

home buyer loans for everyone


Thinking about home buyer loans and your bank said NO? We've got you covered. Here is your guide to buying a home and home buyer advice. Alternative mortgage financing is for everyone who does not fit the bank's mortgage qualifying requirements. Let's get you few mortgage tips.

Ontario wide and Hamilton house buyers with good credit and proven income can qualify for mortgage with 5% down. Click here for low down payment home mortgage loan information. 

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Are you a fit for AAA home buyer loans Hamilton, Stoney Creek, Grimsby, St Catharines to Niagara corridor? Submit application. Get free mortgage assessment.

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Solving the Problem of Home Purchase loan with alternative financing

Guide to buying a home with alternative mortgage financing for Hamilton house buyers or Ontario wide:

  • If you are an Ontario or a Hamilton house buyer, a minimum 20% down payment plus closing costs 3%-5% of purchase price is needed to get that dream home. Alternative mortgage lenders provide real estate financing including no stress test best home equity loans to buy a home.
  • If your home buyer mortgage is needed to buy a rural property on well and septic, or in a small town with less than 30-35,000 population, the most money the alternative mortgage lender will give you is 65% of value. In addition they have acceptable lending areas which can affect your ability to get a mortgage.
  • Before negotiating a home purchase offer it is important to understand where your application fits. This will put you in a stronger position to get alternative mortgage financing for home purchase.

Best thing to do is to submit your application so that we can assess your home mortgage loan information and walk you through the home buying mortgage process.

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Questions? Let Us give you A Mortgage Assessment & Options

Home buyers Advice. Home buying process checklist. home purchase process timeline

The home purchase process timeline depends on your home buyer loans type, but few most common lender requirements include:

  • Few days Finance Condition is needed when negotiating a home purchase offer. The Finance Condition should be long enough to give lenders time to assess your application and review appraisal,
  • Appraisal is part of Finance Condition and few days are needed for this Condition in getting a mortgage application approval: 1) time is needed to order your Appraisal giving the appraiser enough time to inspect the property, prepare a report and submit to lender for approval, 2) once the lender receives the report, time is needed for their real estate department to review and approve or decline the Appraisal -- these are important and time consuming steps in the home buying process checklist,
  • A Home Inspection Condition is recommended to ensure you are not 'buying a lemon' that can become a nightmare instead of a dream home. Without that, it can cost you thousands of dollars in repairs after your home buyer mortgage closes and you own the property,
  • If your home purchase loan is to buy a condominium, the lender and your lawyer will need time to review the Condo Certificate -- a Condition will be needed for this when negotiating a home purchase offer,
  • If the home buyer mortgage is for a rural property or on well and septic, water potability test and other tests may be needed from the local Health Department, and more.

This is your partial home buying process checklist and guide to buying a home. Now let's look at alternative financing for home purchase up-front costs of buying a home?


home buyer loans costs to buy your dream home, a swanky condo or loan to purchase a rental property

Remember to include in your home buying process checklist the costs relating to your home purchase loan:

  • Appraisal, home inspection and condo certificate where applicable are upfront costs payable by you,
  • In addition to the down payment the lender will charge a fee (usually 1%-1.5%) plus various administrative fees and a property tax holdback for a portion of the year,
  • Unless this is your first time home buyer home, there are land transfer taxes payable by you on closing,
  • A lawyer and associated legal costs will be needed to close on your home purchase loan,
  • With many alternative mortgage loans, mortgage broker fees are payable on closing by borrowers.


how to Calculate your land transfer taxes in Ontario with loans to buy a home

     Purchase price     

            First $55,000            

  $55,000.01 - $250,000.00  

 $250,000.01 - $400,000.00 

  $400,000.01 - $2,000,000  

             $2,000,000              

        Tax rate        

               0.05 %              

               1.00 %              

               1.50 %              

               2.00 %              

               2.50 %              

Getting you best home mortgage loan information

If you are going to the bank to get home buyer loans, you may be missing out on best home buyer mortgage options available through the mortgage broker Canada service. Each bank you go to will pull your credit, dragging down your credit score even lower, making it more difficult for you to get loans to buy a home.

There is no need for you to get frustrated going from bank to bank shopping for a home buyer mortgage -- Banks do not provide alternative mortgage financing -- you will need a private mortgage broker.

You deserve an expert to present your information to the alternative mortgage lender accurately. New mortgage options are being introduced regularly. As mortgage brokers Canada we have access to real estate financing needed to help you with the right home purchase loan.

Marie Copeland, FSU Hamilton mortgage broker helping you get a home purchase loan that meets your needs.

Back to top of home buyer loans.


*Lenders change their products and interest rates regularly and without notice. Check with us for updates.


Axcess Mortgage and Loans Financing Co. Ltd. | FSRA 10420 

www.mariecopeland.ca

www.axcessmortgage.ca


1 (905) 537-8815

Banks and AAA lenders pay us for your service. Some alternative mortgage financing and all private mortgage lending broker fees are payable by clients.