Mortgage News
The Wealthy Barber’s advice to home buyers
David Chilton, author of The Wealthy Barber Returns and "Dragon" venture capitalist on CBC's Dragons' Den, offers advice to first-time home buyers.
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Amid speculation that mortgage rates may soon be on the rise, many first-time home buyers are anxious to jump into the housing market to secure a low rate. David Chilton, author of the best selling Wealthy Barber and Wealthy Barber Returns, talks to The Globe and Mail's Rob Carrick to offer some advice for these first-time buyers.
Chilton's tips for first-time buyers:
- Use your post-tax, post-savings income to create a more realistic budget.
- It is not necessary to take the maximum amount you are approved for - stay within your budget.
- Leave a cushion for savings, and any possible increase in interest rates.
For more helpful tips, talk to an Ottawa Mortgage Broker.