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Mortgage Agent #M10001503 
What to 
expect as a 
first time buyer! 
Warwick Johnston 
Mortgage Agent Brokerage #12358
Who Qualifies? 
If you or your spouse have never owned a home, 
or have not owned a principle residence for the 
last 5 ye...
What are you eligible for? 
1) Ontario Land Transfer Tax Rebate of up to 
$2,000. This rebate is only applicable if you ha...
Down Payment: The amount you put down to buy your first 
home. Minimum 5%. A mortgage is then taken to fund the rest 
Loan...
Conventional Mortgage: A mortgage loan up to and 
including 80% LTV 
High Ratio Mortgage: A mortgage exceeding 80% LTV 
Mo...
Mortgage Rates: This is the interest rate that you are charged 
for borrowing the mortgage 
Pre-payment Privilege: Determi...
Mortgage Closing Costs: Costs incurred to close your 
mortgage. There are a number of them: 
Land Transfer Tax – Governmen...
Mortgage Insurance: Government insurance for high ratio 
mortgages to protect the lender in the event that you default on ...
• Educating you and answering all your questions 
ensuring you are completely comfortable 
• Gathering of initial informat...
Banks make money SELLING you money… 
I make money SAVING you money 
My focus is to ensure that everyone of my 
clients are...
I do the WORK! 
My Services are FREE! - the banks pay me 
Contracts with over 28 banks 
Find the mortgage that is right fo...
Warwick Johnston 
Your “Mortgage Source” Mortgage Agent #M10001503 
Brokerage #12358
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Mortgage First Time Home Buyers, Milton Ontario

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Looking at buying your first home? Allow this mortgage agent (mortgage broker) to assist you with the mortgage application process. Educating you on mortgage closing costs, mortgage terms, mortgage insurance and more. Happy clients lead to clients testimonials that lead to referrals. Looking forward to help First Time Home Buyers with their mortgage. Serving Milton, Oakville, Burlington, Mississauga, Georgetown, Toronto and surrounding areas in Ontario. Mortgage financing made simple.

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Transcript of "Mortgage First Time Home Buyers, Milton Ontario"

  1. 1. Mortgage Agent #M10001503 What to expect as a first time buyer! Warwick Johnston Mortgage Agent Brokerage #12358
  2. 2. Who Qualifies? If you or your spouse have never owned a home, or have not owned a principle residence for the last 5 years*, you qualify as a first time buyer * If you have owned a home more than 5 years ago, you will not qualify for the Land Transfer Rebate. You will still be treated as a first time buyer again Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  3. 3. What are you eligible for? 1) Ontario Land Transfer Tax Rebate of up to $2,000. This rebate is only applicable if you have never owned a home 2) Ability to loan up to $25,000 from RSP's with no tax implications 3) Mortgage up to 95% of the value of the home. The 5% down payment can be gifted to you from immediate family members Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  4. 4. Down Payment: The amount you put down to buy your first home. Minimum 5%. A mortgage is then taken to fund the rest Loan to Value (LTV): how much the mortgage loan is relative to the value of the property Fixed Mortgage Rate: The annual interest rate is fixed for the mortgage term Variable Mortgage Rate: The mortgage interest fluctuates up and down as the prime lending rate moves up and down Call Direct: 647-274-6029 www.MortgageSource.biz For more information visit our First Time Home Buyers page Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  5. 5. Conventional Mortgage: A mortgage loan up to and including 80% LTV High Ratio Mortgage: A mortgage exceeding 80% LTV Mortgage Term: Is the initial time period that you contract with the mortgage lender Amortization: This is the time period used to calculate what your monthly payment would be to pay off your mortgage over that time Call Direct: 647-274-6029 www.MortgageSource.biz For more information visit our First Time Home Buyers page Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  6. 6. Mortgage Rates: This is the interest rate that you are charged for borrowing the mortgage Pre-payment Privilege: Determines how much extra you can pay on your mortgage a year without a mortgage penalty Payment Options: How frequently you want to make your mortgage payments Convertible Mortgage: The ability to change the term and or the repayment schedule without any costs or penalties Call Direct: 647-274-6029 www.MortgageSource.biz For more information visit our First Time Home Buyers page Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  7. 7. Mortgage Closing Costs: Costs incurred to close your mortgage. There are a number of them: Land Transfer Tax – Government cost of property ownership. Calculated as a % of the value of the home Legal Fees – Charged by the lawyer to transact the mortgage Title Insurance – Insuring you have title to the property Disbursements – Incidental costs incurred by lawyer Call Direct: 647-274-6029 www.MortgageSource.biz For more information visit our First Time Home Buyers page Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  8. 8. Mortgage Insurance: Government insurance for high ratio mortgages to protect the lender in the event that you default on your payments. Can be added to your mortgage or paid as a lump sum. Premium depends on the LTV of your mortgage Portable Mortgage: The ability to move your mortgage to your new property if you were to sell and buy another property Call Direct: 647-274-6029 www.MortgageSource.biz For more information visit our First Time Home Buyers page Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  9. 9. • Educating you and answering all your questions ensuring you are completely comfortable • Gathering of initial information • Determining affordability • Sourcing the best mortgage option • Submitting the application • Assisting you with the document process through to closing Call Direct: 647-274-6029 www.MortgageSource.biz For more information visit our First Time Home Buyers page Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  10. 10. Banks make money SELLING you money… I make money SAVING you money My focus is to ensure that everyone of my clients are so satisfied with my service that they refer me to others Here are some client mortgage testimonials Call Direct: 647-274-6029 www.MortgageSource.biz For more information visit our First Time Home Buyers page Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  11. 11. I do the WORK! My Services are FREE! - the banks pay me Contracts with over 28 banks Find the mortgage that is right for you. Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  12. 12. Warwick Johnston Your “Mortgage Source” Mortgage Agent #M10001503 Brokerage #12358
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