When Is The Ideal Time To Buy Your First Home?
As soon as we start earning, we think of buying a house, but the question is, when is the perfect time to buy a dream house? Well, this episode will tell you what your ideal age is to buy a house.
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buying your first home
Explore " buying your first home" with insightful episodes like "When Is The Ideal Time To Buy Your First Home?", "7. Your First Real Estate Purchase: Should it Be a Home or an Investment Property with Jessica Facini", "Mortgage Tips for Newlyweds Buying a Home" and "06 - Using your RSP when buying your first home" from podcasts like ""My Money Matters", "In Her Wallet", "The Ring The Bling and All The Things" and "Real Estate – Homes & Spaces by Ema Dantas"" and more!
Episodes (4)
7. Your First Real Estate Purchase: Should it Be a Home or an Investment Property with Jessica Facini
Welcome to Episode 7 of In Her Wallet Podcast! Today our host Sofiia is joined by Jessica Facini, a Sr. Mortgage Broker with Verico based in Vancouver, Canada. Jessica brings over 12 years of experience to the table when helping her clients secure the best mortgage rates during their real estate purchases, either residential or commercial. She is someone who can save you money by sourcing the best mortgage products at the best rates - not only on your first mortgage but through every subsequent renewal.
In our conversation, Jessica describes what mortgage brokers do and what role they play in real estate buying process. She holds nothing back when sharing her personal story of buying her first real estate property and the challenges she ran into, as well as gives us an unbiased advice on whether you should hold off buying real estate in the high interest rate environment we're in right now. We dive deep into the factors that can help you determine whether your first real estate property should be a home or an investment, and how one can maximize their chances for best interest rates during either of these purchases.
Key takeaways:
00:00 Intro
01:28 Get to know Jessica
03:15 Where mortgage brokers come-in in your real estate buying process
04:39 When it's time to contact a mortgage broker
05:50 High interest rates and real estate market
08:00 Real estate as an investment
10:35 Variable vs fixed mortgages
13:05 How to choose an investment property
14:43 Can you make passive income with terrible-looking properties?
16:27 What to consider when buying an investment property
17:24 Jessica sharing experience on her tenant running illegal AirBnb
19:14 Top things to keep in mind when getting mortgage for a home purchase
21:05 How to save for a downpayment
22:29 Where the real power lies in making money with with real estate
22:48 Tips to get the best mortgage rates
24:55 Is now a good time to buy real estate?
27:45 Jessica's advice to women looking to buy real estate
29:29 What does financial freedom mean to you?
30:35 One thing every woman should do to achieve financial freedom
Episode resources:
- Jessica Facini website
- Email Jessica at jessica@jessicafacini.ca
Follow the show, leave us a 5-star review, and join our growing community of women building the futures they've always dreamed of.
In Her Wallet
en-caNovember 03, 2022
Mortgage Tips for Newlyweds Buying a Home
In this episode, co-hosts Kristina, Mike & Sharon talk with mortgage loan officer Pam Kimmel of New Washington State Bank about buying a home, down payments, credit scores, loan types and much more.
The wedding is over and now the hunt is on for a new home. You’ll want to tune in to this episode to familiarize yourself with mortgage loan terminology and to understand that a good loan officer will help you determine which loan best fits your situation.
BY THE TIME YOU FINISH LISTENING, YOU’LL UNDERSTAND the different types of home loan programs available, the terminology used and why you and your spouse should be pre-approved before you start searching for a home.
Will you and your fiance be purchasing a home together before or after the wedding? Share your responses with us and tag us on Facebook or Instagram @theringtheblingandallthethings
While you’re there, make sure you follow us @theringtheblingandallthethings so you can see behind the scenes where me, Mike & Sharon will take you from engagement to your wedding day and beyond with The Ring, The Bling & All The Things
ABOUT OUR GUEST: Pam Kimmel's career started in a credit department and from there, she went into finance. Pam began her work with mortgage loans in 1995. There have been many changes through the years but she truly enjoys helping people that are seeking to buy a home, refinance a home, buy a 2nd home or take equity out for home improvements. Pam likes for her clients to feel comfortable and knowledgeable of every step of the process. She also enjoys educating clients on the process of building a home vs buying an already existing home and walking them through the process of a home that may need a lot of renovations. Pam ensures her clients get the right loan to fit for their needs to achieve their goal. Pam excels at working with first time home buyers and enjoys walking them through the steps and making the process as simple as possible to help though understanding the loan process. Pam says that one of the most rewarding accomplishments that she can have as loan officer is to have past clients refer their friends and family to her.
WEBSITE: https://www.secureloandocs.com/app/13237770
Facebook: https://www.facebook.com/NewWashBank
Please note: This episode was originally recorded in April 2021. Please check with Pam for updated rates and information discussed in the episode.
For more information on The Ring The Bling And All The Things:
Website: https://www.ringblingallthethings.com/
Facebook: https://www.facebook.com/theringtheblingandallthethings
Instagram: https://www.instagram.com/theringtheblingandallthethings/
YouTube: https://www.youtube.com/channel/UCVEfTglDwhfMsdRFL_nFIzw
TikTok: https://www.tiktok.com/@ringblingallthethings
Connect with hosts:
Kristina Stubblefield
Website: https://kristinastubblefield.com/
06 - Using your RSP when buying your first home
The RRSP Homebuyers Plan (HBP) which allows first-time homebuyers to withdraw up to $25,000 from their RRSP, tax free can be a great way to safe for your downpayment and reap the tax benefits at the same time.
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