Hamilton is a metropolitan area in the Golden Horseshoe region of Ontario where nature and history meet. The city allows its residents a chance to enjoy rich greenery and vast heritage all in the same place. The city is known for its thriving art scene, natural wonders like the Bruce Trail, and commitment to preserving the area’s historic locations. Many Ontarians see Hamilton as the perfect locale to purchase their first home. Although the area is densely populated with 519,949 residents, Hamilton is an urban city with rural charm. If you’re hoping to purchase your first home in the city or simply move into a new one, you have many property options at your disposal.
To purchase a house in the city, you will need to work with two very important people: a realtor and a mortgage broker. To find a realtor you can try RAHB. The Realtors Association of Hamilton-Burlington represents over 2,500 real estate professionals and provides future and current home buyers with resources that deal with the Hamilton housing market. Another way to find a realtor to work with is to contact a mortgage broker. Mortgage professionals aren’t just people who set their clients up with home buying loans, they also deal with a network of other industry professionals such as real estate agents, lawyers, and accountants.
As aforementioned, a mortgage professional can help you buy your Hamilton dream house. Why? A mortgage broker’s job is to shop around for the best lending deals on your behalf. Brokers have relationships with a variety of different lenders and can leverage each one until they’ve found the perfect mortgage product for you. A Hamilton mortgage professional knows the area’s housing and lending and offers their expertise for free. It may sound too good to be true but mortgage brokers are paid by lenders they set their clients up with.
Fast Facts About Hamilton:
Your home is your most valuable asset. It is probably the single largest investment you will make in your lifetime. Your home is more than a place to rest your head and raise a family. Your home contains equity. It is a treasured resource and in some cases, can even be used as an ATM (aka cash back mortgages and HELOCs – don’t worry we’ll get there).
Everyone who is looking to purchase a home will need a mortgage. But, what is a mortgage exactly and why do you need it? Besides being the term to describe a loan secured by real estate, a mortgage allows you to access funding to procure your dream home.
If you want to buy a home, but are unable to put down a minimum down payment of 20% then you will need mortgage loan insurance. Read More
If you are thinking of buying your first home then you are likely not thinking of mortgage penalties. Read More
When you sign on the dotted line of a mortgage agreement, you do so with the hope that this transaction will ultimately be very beneficial... Read More
We always advise first-time home buyers explore their mortgage options before they do anything else. Read More