Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley. thank you

Your relationship with your partner will experience many exciting milestones: your first kiss, moving in together, getting engaged, having children… But one of the most important steps in your relationship will be buying a home together and getting your first mortgage. A home will likely be the largest joint purchase you ever make, and you need to be sure you are making the best financial decision to fit your specific needs as a couple. Here are a few pointers on how to talk mortgages and finances with your partner:


Share your financial goals

The most important thing to remember when discussing your finances with your partner is to be open and honest. Share your financial situations and goals with one another and make sure that you are both on the same page. Are you looking for a home to start a family or are you looking for more of a centrally located condo or even an investment property? This may not be one specific discussion, but an ongoing series of conversations between you and your partner to best ensure a financially secure future together.


How to get the conversation started

Financial matters can be sensitive and personal topics to some people so make sure you approach this conversation seriously. Some items to consider and discuss:

  • Your credit ratings
  • Any outstanding debts (e.g. car or student loans that still need to be paid off)
  • Your salaries (if one of you is a significantly higher earner, will you still split the mortgage payments 50/50?)
  • Your savings (what are you both contributing to the down payment?)
  • Other unique obligations, such as supporting family members


Visit your mortgage broker together

After discussing your financial goals and plans, visit your mortgage broker. Having a goal in mind will help your mortgage broker ascertain what financing best suits your needs. Capital Mortgages offers step-by-step personal assistance from knowledgeable mortgage brokers and an easy online application process. We’ll be by your side each step of the way, from helping you understand your options and what to expect, to mortgage pre-approval, and all the way through finalizing your mortgage and the purchase of your home. We may even be able to help you discover other options to realize your goals sooner.  


Have a follow-up discussion and make a unified decision

Once you have confirmed your joint goals, met with your Capital Mortgages broker, and have all the information you need, have a follow-up discussion. You and your partner should reassess your joint situation before you make a final decision.


As you enter your house-hunt well-informed and prepared, remember it can take months to find your dream home, and financial situations can change in that time. For this reason it’s important to stay in touch with your Capital Mortgages broker to ensure you are always best positioned financially. Remember your pre-approval will only lock in that interest rate for 120 days!


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