1
Are you Financially Ready?
Before you start daydreaming about granite countertops and ocean views, ask yourself:
- Do I have a stable income? (Because lenders love steady paychecks.)
- Is my debt-to-income ratio under 42%? (Less debt = better mortgage options.)
- Is my credit score 650+? (Higher = lower interest rates.)
- Do I have at least a 5% down payment? (The more, the better.)
If you answered “uh…maybe?” or “my debt-to-what?” you could probably use some help. Let us connect you with the best in the business.
2
Learn About Home Buyer Incentives
You don’t have to go it alone—there are programs to help first-time buyers.
Newfoundland’s First-Time Homebuyers Program gives financial assistance for your down payment.
The Federal First-Time Home Buyer Incentive offers an interest-free, repayable loan covering 5-10% of your home’s price. Plus there’s a sweet little program involving RRSPs that gets you a downpayment pretty smoothly if you talk to the right people. Want the inside scoop on these? We’ll walk you through what you qualify for.
3
Set Your Budget (For Real, Not Just What the Bank Says)
Your pre-approval amount isn’t the same as what you can comfortably afford.Factor in: Mortgage payments, property taxes, home insurance, utilities, and maintenance.
Use an online mortgage calculator to get a ballpark idea before meeting a lender.
Don’t forget closing costs (legal fees, mortgage and deed registration, moving expenses, an awesome gift for your Ask Team agent).
Need a second opinion? We’re happy to help crunch the numbers.
4
Get Pre-Approved (Not Just Pre-Qualified)
A pre-approval isn’t just a guess — it’s the bank saying, “Yep, we’d lend you this much.” It makes you a stronger buyer.
- Gather proof of income, assets, debts, and ID.
- Shop around with different lenders for the best rates. Or be extra smart and have a pro do it for you.
- Lock in a rate so you’re protected if they go up.
Bonus: Sellers take you way more seriously with a pre-approval.
5
Choose A Realtor
Why is this part even here? Who was supposed to proofread this section?
Obviously, you should pick us! Ugh. You want something done right …
The right agent makes all the difference.
6
Start Searching (The Fun Part!)
Time to figure out what you actually want in a home.
- Pick a neighbourhood that fits your lifestyle.
- Make a must-have list (size, layout, features).
- Be realistic — every home has something that’s not perfect.
Pro tip: Think about the future. Will this home still work for you in 5 years?
7
Make an Offer (With a Smart Strategy)
Found The One? Time to put in an offer.
- Look at comparable sales to decide on a fair price.
- Offer as high or low as you want. Just make it make sense.
- Include conditions (financing, home inspection, the pingpong table etc.).
- Negotiate wisely—not too aggressive, not too soft.
We’ll guide you every step of the way.
8
Home Inspection (Do Not Skip This!)
A home inspection is your safety net. Hire a certified home inspector,
identify any hidden issues before finalizing the deal, and use an inspection to negotiate repairs or adjust the offer if needed.
Skipping this step? That’s how people end up buying a money pit. Just don’t.
9
Finalize Your Mortgage & Financing
Once your offer is accepted, you need to lock in your mortgage.
Submit your purchase agreement to the lender, provide any last-minute paperwork, and get final approval so the money is ready for closing day.
We handle all of this so there won’t be any surprises. We got your back.
10
Closing Day (Almost There!)
The final steps before you get the keys:
- Do a final walkthrough to check the home’s condition.
- Sign the legal paperwork with a real estate lawyer.
- Get nervous and scared and laugh, then cry, then laugh some more.
- Transfer funds, close the deal, and get the keys!
Congratulations! You’re a homeowner!
11
Move In & Make It Yours
Get home insurance sorted before move-in day. Set up utilities, internet, and change your address. Settle down, we’ll give you a cheat sheet with all their contact info.
Celebrate (and invite us to the housewarming, obviously).
Ready to Buy? Let’s Make It Happen.
The home-buying process doesn’t have to be overwhelming. With The Ask Team in your corner, you get expert guidance, zero fluff, and a smooth path to homeownership. Message us today and let’s get started.
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