Buying your first home is exhilarating, but also a little frightening. The most time-consuming task is saving cash for the down payment, closing costs and other moving expenses. The tips that I wish I had taken in from other people and the things I wish I knew when we started this process are the things that if we ever move house again (I can’t see that happening ever right now!) I will be so glad I know.

When the vendor and purchaser have reached agreement on a sale a compromis de vente (sale agreement) must be organised either through a notaire or an estate agency. You never have to complete a credit application and yet the house is yours easier than if you did go through that long drawn out process.

For example, you may pay upwards of $4,000 as a loan origination fee if you purchase a $400,000 home. The only sticking point is the person receiving disability payments would need to provide proof that their payments are not going to end any time soon. Ideally, your monthly debt payments – and that includes your mortgage – will be less than 38{7c352f4fa08585812fe49d64b966ab1fc9eda250e0643651a7855d798aa89d13} of your gross income.

Keep in mind, this payment is just for the mortgage, not for anything extra like property taxes or private mortgage insurance. Your real estate agent will work with you to submit a solid offer If you end up in a bidding war with other buyers, keep a cool head and put your best foot forward.

Depending on where you live, the closing agent may be a representative from the escrow or title company or a real estate attorney. Check your financial situation: you need to be certain about your income and have a decent amount of money to use towards your down payment.