Organizing your finances is the critical first step
in your home purchase:

• Consider the one-time costs associated with a home purchase, including a down payment, legal fees, inspection fees, taxes and moving expenses.

• Understand ongoing monthly costs, including mortgage payments, insurance, utilities, property taxes, maintenance and, if applicable, condo fees.

• Take into account the equity you may have in your current home and the applicable mortgage options available for your next move.

• Pre-qualifying for a mortgage gives you the comfort of knowing how much you can afford and what your monthly payments will be.

• A pre-approval from a mortgage lender protects you against interest rate increases for a given period during your home search.