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what do you need like so many year of working or credit or what?? and how old do you have to be to get one?? im only 18 but i rather pay on a mini home thats 65000.00 than rent an apartment and waste my money, and i know nothing about it so can you help me??.

1 Thought on mortgage? I live in NS Canada how do you do this?
  1. Reply
    hanora
    February 10, 2014 at 3:46 am

    The institution or person loaning you the money to buy a house requires 2 main things, evidence that you have the ability to pay (employment) and the integrity to pay (credit history). Get a credit card and use it wisely, pay it off each month. If you can, live at home a while longer and save up money for your downpayment which has to be 5%. A local real estate office probably has brochures on the basics of home buying.

    Don’t make the mistake of comparing monthly rent to monthly mortgage payments. There is a whole lot more that goes into home ownership that is not usually included in rent – taxes, insurance, heat, electricity, water and sewer, repairs, maybe garbage and snow removal. Plus you can’t just up and move, at your age you might want to do that.

    Good for you for thinking ahead and good luck.

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