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A34 - The Canadian Champion, Fniday, July 29, 2005 S.OIlH,, lips for frirst-time home 'b"uyers Buying your first home is a major life event. You will have many decisions ta make bath befare and affer you find the right home, including financial $234,900 - OR - LEASE $1,300 PER MOS. NEW (THIE SPRINCVALLEY 1300 SQ.FT.) Neyer uccupied. No need lu cuit. This brand new luwn houne is ready lu moue ioto now. Unique 3 leuti design cilS baicony, a bedroomn, open concept kitchen and main ituel den and laundry area. Close lu park & uchuol. Loc maintenance pet- lect lot a hus lilestyle. Contact Carol Brooks, Sales Rep. 905_878-7777. [ W decisions. Here are a few tipo ta make financing your firot home a littie easier. 1. Get pre-approved for a mortgage. A pre-approved mort- gage gives you an edge. Before you even go house hunting. you wilI know your maximum mortgage amount. the interest rate and the amount of your monthly mortgage pay- ments. A pre-approved mortgage may also put you in a stronger bargaining position when you make an Offer ta Purchase because the seller wilI knaw that you are a serlous buyer. 2. Determine your home price ronge. With your financing already figured out, you can concentrate on finding the right home within your price range. There are two things ta cansider when determining how much you can attard ta spend an a home. . How much do you have tor your downpay- ment? . How much con you afftord for your monthly pay- ment while sti11 enjaying lite? To help you answer these questions, you can either cal yaur financial institution or go ta your branch and falk ta your personal banker. Some financial insti- tutions, including CIBC, have tools an their websites that can help yau calcu- lofe what yau can afford. Just enter yaur information in response ta a few ques- tions and the calculatians will be dane for yau. 3. Determine your down- poyment omount. You con buy a home with as litf le as 5 per cent of the purchase price. Hawever, if yau have a downpayment of lesu that 25 per cent if wil mean your mortgage must be insured by an insurer such as Canada Martgage and Housing Corporation (CMVHC). The amaunt of your dawnpayment will determine whether you need mortgage insurance ~**~~1 ENTRE IMMACIJLATE BRIHT MA1TAMY..on corser lot BACKING ONTO WOODS WITH 1 BORM APT, SEP ENTRANCE. Custom kitchen, recessed; lightîng, pst drawers, pantry, B/1 Buttes & ltstch [ with glass dors matching corner angled cupboard. Appt ance garage, toie kick sac, lazy satan, Mss bdrrn bas window seat, W/1 [ cîsset, 4 pcs ensuite with delune Air Jet soaker tub & tep shocer ..~ FP insFR, bay wisdsw, single garage dbl drive. CAC, CVAC & MUCH, MUCH MOREWl MLS W702213 i PRESNTS ioar REA E- Aent Trig High Level Real Estate training you can't afford to miss! 1) LISTING CLINIC Acknowledged as one of the besi Real Estate training courses ever presented in Ontario. * Master becomning a MEGA Listing Agent by learning *from a Mega Lister. *Master the Listing Presentation *Overcome the most common objections * Cultivate the 7 sources of listings * Implemnent a Resuits based 4-week listing plan. Presenter Gene Rivers Date: August l6th & l7th, 2005 Location: Oakville Conference Centre 2515 Wyecroft Road, Oakville Cost:. $149.00 plus GST if Regîstered by August lst $ 169.00 plus GST if Registered between August 2nd - l4th $189.00 plus GST if Registering August lSth-16th To Register caîl Donna Aiton at 905-469-5678 or EMAIL: daiton@kw.com For more information on career opportunities with Keller Williams Our Town Realty, Oakville, cail 905-469-5678 or visit www.kwcanada.com cach office independentiy owned and operated. or not. Yaur insurance premium will depend on the amaunt you are barrawing and the amaunt of your dawnpay- ment. Premiums usually vary between 1.00% and 3.25% of the mortgage amount. 4. Tap into your RRSPs. If you qualify as a first-time homebuyer, yau and your spouse con each use up ta $20.000 tram your RRSP sav- ings tawards your clown- payment. This money will not be included in yaur tax- able incame, as long as yau repay the amount with- drawn from your RRSPs with- in 15 years. 5. Be aware of additlonal costs. Your mort- gage wii caver off the greater part of the pur- chase price 0f your home, hawever, there are other costs associated with buying a home, These are caiied ciosing costs and they usual- ly range between 1.5% ta, 3.5% of the total cost of your home. Aiso, don't for- get ta consider g e n e r a i expenses such as moving and home decorat- ing costs. If you are Iooking for your first home, CIBC provides valuabie and informative services for the flrst-time home- buyer. For mare information about your m or tg ag e options, con- tact your CIBC Adviser or cal 1 800 46s5-CIBC (2422). - News Canada OPIJ HOUSE Here's Your Opportunity To $MAYR2-4 P (WE 710 The. ilto Canadian Chmi uGoeteniActen Indepoieent & Fme Prema, and OahvIIIe Today are offert*ae te po u te mail Nie greate number of hom in lun ea wt i TOP THREE ïG.. ail tht unique churacteris- N14EW SPAPERS.; ofe.This fine home bit18 htvradec or few aeyucvrdi u itown Milton in s neighbouritood 4 htvradec yur fe ehveyucvrdi u and qoîte otreets are commun. >TOP THREE COMMUNITY NEWSPAPERS: teaturen large principul roos, s Milton Canadian Champion .............20,700 ýlank llooring, glorînon sunruom, Georgetown/Acton Independent & Fret Press . .......25,065 ized deck, hot tub, rock gardons Oakville Toduy . ................27,000 900 GurnedAdtdDistribution* ........ 72,765 .Dtibution audited annually by Canadian Circulaions Audit Board (CCAsL Uplradea ovet. $70.00 Nonl Vnale i 480,000 me ESTATIE j