It’s a dream we all have to own our own home and not have to pay rent anymore. If you’re like most renters, you feel like you’re stuck in a home that doesn’t belong to you. You are taken and you do not see how you could acquire your own house.

Don’t feel stuck anymore…

It doesn’t matter how long you’ve been a tenant or how difficult your financial situation seems. The truth is that little-known information could help you bridge the gap, changing your status from renter to owner. With this information you will learn how to:

• Saving for your down payment
• Stop enriching your landlord
• Stop wasting thousands of dollars on rent.

6 little-known facts that can help you buy your first home.

The problem most tenants face is certainly not their ability to afford a monthly payment. Everyone knows that you have to meet this obligation every first of the month. The problem is rather to accumulate enough capital to make the initial deposit on a property that will stay with you.

Saving that starting amount isn’t as difficult as you might think if you take note of the following six points.

1. You can buy a house with a lot less cash than you think.
   There are local or national programs (like the Home Ownership Program) to help people get into the real estate market. You can even qualify as a first-time home buyer even if your spouse has had a home previously, as long as your name has not been registered as a co-owner. Make sure your agent is knowledgeable and knowledgeable about homeownership programs to introduce you to all the possibilities.
2. You could get help from your financial institution for your down payment and acquisition costs.
   Even if you do not have the amount of the down payment, if you have no debt and you have net assets (for example a paid-off car) your financial institution could lend you the down payment by taking this have as collateral.
3. You might find a good broker willing to help you.
   Some sellers may agree to a second mortgage. In this case, the seller more or less becomes the lending institution. Instead of paying him cash for his house, you pay him monthly payments.
4. You could create cash without really going into debt.
   By borrowing money to invest in RRSPs up to the desired amount, you could benefit from a tax return that you can use as cash. It is true that the money borrowed in this way can technically be considered a personal loan, but the monthly payment could still be minimal. Thus, the money invested in the house and in the RRSP is yours.
5. You can buy a house even if you have credit problems.
   If you can’t raise the minimum cash or secure a loan because you don’t have equity, lending institutions will still receive your mortgage application.
6. You should be pre-qualified for a mortgage before you begin your search.
   This is easily done and gives you peace of mind when it comes time to shop for a home. Mortgage brokers can get you approved in writing at no cost or obligation. This can even be done easily over the phone. Much more than a verbal approval a written pre-qualification is equivalent to money in his bank account. You get a certificate that guarantees your mortgage level; very useful when you finally find the house you were looking for. Think about calling on a professional who specializes in mortgage loans. Using their services can be the difference between getting a mortgage or being stuck with their landlord forever. Generally, there is no charge for obtaining the information. Why on earth would you continue to throw thousands of dollars on rent down the drain when you could take a few minutes with your agent to discuss your specific needs so that you can move from renting to owning your home. will cost nothing. And of course, you shouldn’t feel compelled to buy a home as you read this, but by taking the time to explore different choices, discover ways to own a home, imagine how seasoned you’ll be. and relaxed when making this important decision.