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A Step-by-Step Guide to Buying Your First Home in a Year Buying a home isn’t necessarily something that you can do on a whim—there are months of preparation involved when  transitioning from renting to homeownership. With so many moving parts in play, from  loan  approvals to placing  purchase offers , navigating home buying for the first time can be an overwhelming task. In the age of the  coronavirus pandemic , when some real estate processes have changed, buying a home can seem especially daunting.  Luckily, we’ve developed this handy 12-month calendar for  first-time homebuyers  that will help to keep you on the straight and narrow when making your  home purchase . From the beginning of the process, down to the final months and weeks, we’ll guide you through what you need to do and when.  12 months out One year from the time you hope to buy, it’s important to determine how much house you can  afford  and how much you might ...

The Mortgage Stress Test May Get More Reasonable | RateSpy.com Here's some good news for mortgagors who've been blocked from qualifying for a mortgage due to the mortgage "stress test." FROM A RECENT SPEECH TO THE C.D. HOWE INSTITUTE BY BEN GULLY* Sound Mortgage Underwriting: Foundation for Stability - Remarks to the C.D. Howe Institute, Toronto, Ontario, January 24, 2020 Good day and thank you for making the time to join me. Thank you for the kind introduction and to the C.D. Howe Institute for inviting me to speak. This is a wonderful venue for discussing important policy issues of the day. * BEN GULLY IS THE ASSISTANT SUPERINTENDENT - REGULATION SECTOR OF THE O.S.F.I.

Buying a Home Early Can Significantly Increase Future Wealth According to an Urban Institute study, homeowners who purchase a house before age 35 are better prepared for retirement at age 60. The good news is, our younger generations are strong believers in homeownership. According to a Freddie Mac survey, "The dream of homeownership is alive and well