New Brunswick REAL ESTATE

New Brunswick is a hot spot for people that are looking to the east coast of Canada for their new home. What makes New Brunswick a targeted area for home buyers is the rich assortment of lifestyles that can easily be achieved here because it all begins with the warm and friendly residents that will become neighbors with you and your family. The real estate and costs of living tend to be lower than other provinces in Canada, which translates into having more disposable cash left over each month... this is just the first perk to living here! You can choose a rural lifestyle, a modern & eclectic urbanite lifestyle, or a lifestyle that touches both when convenient! Nestled by the Bay of Fundy and hosting rivers, mountains, and extensive forests, there are many opportunities for outdoor adventures. Indoor enthusiasts can indulge in the many farmer's markets (the Saint John City Market is great), take in some art & culture at the many events & festivals and indulge in numerous French cuisines that New Brunswick is known for. Children love to walk the shorelines of the Bay of Fundy to find excellent treasures (seashells, sea glass, and the occasional piece of driftwood) and water & beach loving residents frequently visit the east end, where the Northumberland Strait & the Gulf of St. Lawrence host many sandy beaches, parks and warm seawaters. You can easily slip into the American state of Maine for a day trip, as it borders New Brunswick in the southwest and west.

Because of the deep history of New Brunswick, home buyers on the hunt for the perfect piece of real estate will most likely not be disappointed. There are varied arrays of real estate options in New Brunswick, so buyers are sure to find a great new home or a beautiful vacant lot in which to build. Tapping on all levels of budgets, this province has a realty collection that consists of small cabins amongst the forests all the way up to city condos, mobile homes, townhouses, semi-detached & detached spacious houses, ranchers, bungalows and cottages. The laid back atmosphere of this province lends to a better quality of life, especially for those buyers that are self-employed or utilize the Internet to source income, but the economy and employment opportunities are also strong here. Typically, home buyers have not had the chance to save up a substantial down payment to place down on a mortgage, so how do you proceed with getting a mortgage loan to buy a house? One tip to keep in mind is... by agreeing to obtain mortgage default insurance as a security against the loan, most lenders will forgive the down payment. For less-than-perfect credit ratings and debts, there are private mortgage lenders that will still sit down with you and prequalify you for a loan.

Banks & credit unions can be tough to win over when it comes to larger loans, so a good alternative is to approach a mortgage broker (brokers have multiple private lenders at their access and can offer you their expertise). If you have saved the 20% down payment and if you have money tucked away for the closing costs, moving expenses & unexpected other costs AND you have great credit & income, you may be able to qualify for a mortgage loan at your bank or credit union. As you can see, there is a lender out there that will be willing to work with you to get you a real estate mortgage loan but be wary of the interest rate on a mortgage (the higher the interest rate, the more money it will cost over the life of the loan). There are other points of interest to look out for, such as any penalties that may be imposed on you if you are getting the best mortgage product that falls in line with your finances comfortably, and how your monthly payments perform (how much will be applied to the principal amount and how much will be divvied out to just the interest). Performing some side research before talking with your lender is as easy as pulling some tools online like a mortgage calculator and becoming familiar with the various types of mortgage products.