Your Step-by-Step Guide to Buying a Home
Buying your first home is exciting, but it can feel overwhelming at times. Let us help you understand what to expect throughout the process.
Step 1
![Clean home with healthy front yard during late spring season Purchase Your First Home](https://i0.wp.com/woollammortgageteam.com/wp-content/uploads/bb-plugin/cache/istockphoto-957895328-612x612-1-panorama.jpg?w=1260&ssl=1)
How much can I afford?
Before you start looking for a home, we need to know how much we qualify for.
- The first step is to create a financial profile by filling out our online mortgage application.
- Once a financial profile has been created, we can apply for a pre-approval. Read more about the benefits of a pre-approval.
- The pre-approval will determine how much of a home you can afford.
Step 2
![2 Your Borrowing Capacity](https://i0.wp.com/woollammortgageteam.com/wp-content/uploads/bb-plugin/cache/2-panorama.jpg?w=1260&ssl=1)
Preparing for your purchase
Buying a home is a big decision and it is important to ensure you have prepared.
- We will need to save for our down payment and closing costs. How much will I need?
- Save for your down payment using your RRSP and the Home Buyers' Plan
- You may find that mortgage lingo is confusing. Check out our list of common mortgage terms in our glossary.
Step 3
![Stay ahead of your competition Stay ahead of your competition](https://i0.wp.com/woollammortgageteam.com/wp-content/uploads/bb-plugin/cache/9-panorama.jpg?w=1260&ssl=1)
Buying a home
There are hundres of homes for sale in my area, where do i start?
- To narrow down your search you should create a list of needs and wants. Check out our checklist!
- It is time to hire your team to help you through the process. From realtors to lawyers to home inspectors, check out our list of professionals.