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Friday August the 23rd, 2019 
Cecilia Ramos
Mortgage Broker Lic. M008002669

Ultimate Mortgage and Finance Solutions Inc FSCO Lic 11995
Independently owned and operated
Cell (416)728-1562              Office (416)757-9957

Steps to Buy a Home/House

May 28, 2009 - Updated: August 1, 2013

Thank you for visiting By Cecilia Ramos

Click here for Quick Pre-Approval


    When it comes to buying Real Estate, proper preparation is one of the keys to success.

  • Don't want to find yourself in a neighborhood you dislike?
  • Don't want to be making mortgage payments on a house in which you are uncomfortable with?
  • Don't want to waste your time falling in love with houses you can't afford?

In a word, prepare!


One of your most important tasks will be determining your needs. It can help to avoid either a   nasty disappointment or the pain of buying more house than you need (or can afford). Distinguishing needs from wants will go a long way in preventing expensive mistakes in the house buying process. Establish some basic parameters and stick to them.

How much can you afford?

What you can buy depends on:

  • How much cash you have for a down payment and closing costs
  • How much money a mortgage lender is willing to provide as a loan
  • How much you can comfortably handle in monthly payments

It would be a very wise idea before you start looking for a house to consult with you financial advisor to check    how much you can afford.

Where do you want to live?

Everyone wants to buy homes in neighborhoods with:


Most buyers know where they want to buy a house, mainly close to work, friends, family and good recreation.

  • Good school districts (even if there are no children, good schools mean high resale values.)
  • Low to zero crime rates
  • Rising property values

How Much Will The Bank Give You?

Get pre-approved for a mortgage loan at the start of your search for a home.


Most first time home buyers want to look at homes...  they often shop for a mortgage loan only after they've fallen in love with a particular house. Don't make that mistake! Get Pre-Approved or Pre-Qualified .

  • Pre-Approved - A lending institution has processed your loan application and approved a specific mortgage amount.
  • Pre-Qualified -  An unofficial estimate of the home you can afford (a "pre-qualified buyer" is one who should be able to get a mortgage big enough to purchase the home he or she wants to buy).

Selecting a House?

Start with the basics:


  • Consider the purchase price
    • The value of an inexpensive home is pulled up by more expensive homes around it. In a neighborhood of $200,000 homes, a $150,000 home is a bargain even if it needs $25,000 in improvements. In other words, buy the cheapest house on the block.
    • Property of higher value is pulled down by lower priced property. A $200,000 house will be hard to re-sell on a block where the other homes are selling for $175,000. Never buy the most expensive house on the block.
  • Buy a home that can be sold at a profit
  • Find knowledgeable and honest real estate agent who is familiar with your target neighborhoods
  • Work with your agent to find the perfect house.

Negotiate a Price

Ok you found the house that you like, now:


  • Evaluate the Seller's asking price.
  • Ask your agent to prepare a Comparable Market Analysis (CMA) to review neighborhood selling prices.
  • Consider other negotiating points.
  • Decide how much to offer and on what terms.

Also Please Feel Free To Contact Me at Anytime For All of Your Mortgage and Real Estate Needs.

Thank you,
Cecilia Ramos  
Mortgage Agent M08002669
Argentum Mortgage & Finance Corp
Tel  (416)757-9957
Fax (416)757-9937
Cell (416)728-1562



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