First Time Home Buyer

Helping You Get The Necessary Information

By taking advantage of the Military Mortgage Plan, you will have access to mortgage professionals who will take the time to help you become familiar with the home buying process. There is a lot to know, especially on the topic of affordability. Your personnel mortgage consultant will help answer your questions, like:

How much can I afford?

Have a mortgage professional calculate the maximum price of the home you can afford, taking into account all the military benefits you may be entitled to.

What will be my regular mortgage payment?

Your mortgage consultant will help you structure your mortgage payment to fit into your lifestyle and financial objectives.

For Regular Force personnel who will receive PLD at their new posting, you may want to try and match your mortgage payment to your PLD allowance. Any extra savings or income then can be used to pay down the outstanding mortgage principal on your own terms and not the banks.

For Reservists, you can structure your mortgage payments so that you are control. You can increase or decrease your payments through out the term of your mortgage to accomodate your lifestyle needs.

What sort of IRP benefits am I entitled to?

Although the Military Mortgage Plan does not administer the IRP directly, the Military Mortgage Plan is certainly designed to help you maximize all of these benefits. Your personal mortgage consultant will walk you through the different approaches the IRP benefits can applied to your personnel situation. By the end, you will precisely know which scenario will save you the most money in the short term and the long term.

How do I access my personal mortgage consultant?

Buying your first home is a very exciting endevour that will generate lots of questions, concerns and issues through out the process. Through the Military Mortgage Plan you will have access to a personal mortgage consultant. Your personal mortgage consultant is there to provide valuable advise and help take care of the tedious details for you. This way you can focus entirely on buying the perfect home, knowing that you are being looked after by an experienced industry expert. Best of all there is no cost to you for this value added service through the Military Mortgage Plan!

How much do I need for a down payment?

It is recommend that you put down as much as you can afford. If you don't have a lot of savings for a down payment, don't worry. You have the option to obtain a mortgage covering up to 100% of the purchase price.

Do I need a pre-approval before I start searching for a home?

A pre-approval is highly recommended for several reasons:

1. You will know what is your maximum purchase price
2. You will be guarenteed the best mortgage interest rate during the hold period. This means if interest rates drop you will get the lowest rate. If interest rates rise, your guaranteed interest rate wont.

The Military Mortgage Plan is the single plan you need to take advantage of it all!

For more information or to set up an appointment

(416) 619-9248

ARupf @ MorCan . ca (without spaces)