The Bank of Canada's qualifying rate has drifted downwards to 5.89% as of 06.30.2010... This should help 'ease' some people's concerns (a bit) when qualifying to purchase a home with a fixed term shorter than 5 years OR with a variable rate term.
Today, we wrap up the homebuying process' last 5 steps...
Yesterday, we had walked through the first two steps of the First-Time Homebuyer process that helped to digest some of the initial mental processing of ‘taking the plunge’ into home ownership. Today’s topics will cover more of the mapping process as well.
Many first-time homebuyers have the dream and the drive, but haven't done the mental 'math' of what really goes into the homebuying process. In this installment, we walk through some of the preliminary steps of mapping out the ABC's of the homebuying process. More to come throughout the week!