Tatum Neufeld Mortgage Associate

Tatum Neufeld

Mortgage Associate

213, 4935 55 Ave, Edmonton, Alberta









Home Ownership…It is one of the most important and complex decisions you will ever make. They key to making the right decision is to know and truly understand your financing options. Not all mortgages or mortgage lenders are created equally, but with my experience and expertise I am able to tailor your mortgage to your specific needs.


At Mortgage Tailors, we have a strong and active relationship with a comprehensive range of mortgage lenders, and sometimes it isn’t a case of just finding the best rate. With access to over 300 mortgage products to choose from – not just one line of products at one bank, my aim is to get a proper understanding of your financial situation and match you with a mortgage product that is the best possible fit.


As home buyers, you must be able to trust and have confidence that your best interests are being looked after. You need a dedicated Mortgage Associate who will find the best mortgage product on the market for you and negotiate with lenders on your behalf. My goal is to provide you with a positive, stress-free experience so you can focus on the bigger picture – finding your dream home and achieving financial security.

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First-time Homebuyers’ Five Biggest Mistakes

Buying a home for the first time is an exciting time. Youre making quite possibly the most significant financial transaction of your lifetime. While buying a home is something to celebrate, its important to do your homework. This experience is entirely new to you and the last thing youd want to do is make a mistake that will cost you. Here are the five biggest mistakes first time homebuyers make and how to avoid them. Mistake #1: Buying Too Much Home Before heading out house hunting, its a good idea to get pre-approved for a mortgage. When youre pre-approved, youll know exactly how much you can afford to spend on a home. Your mortgage broker is going to tell you the maximum amount you can spend, but keep in mind, that doesnt mean you should spend the entire amount. Take some time to crunch the numbers and see if you can afford the mortgage payments on a monthly basis. Dont forget to take into account property taxes and condo fees (if applicable). Youll want to leave yourself some financial breathing room or you could find yourself house rich, cash poor, with very little money to save, let alone to spend on going out and vacation. By buying a home within your limit, youll be better prepared the next time life throws a financial curveball at you. Mistake #2: Forgetting to Budget for Closing Costs If youve never bought a home before, its easy to overlook closing costs. Closing costs are the legal and administrative costs you will need to pay when your house closes. Theyre just a drop in the bucket, right? Wrong. While you typically only have to show 0.5% - 1.5% of your homes purchase price to your lender, closing costs can add up to 4% of the purchase price. On a $350K home, you could be spending upwards of $14K in closing costs. Your lender wont cover these costs, so its your responsibility to put this money aside in addition to your down payment. Examples of typical closing costs include land transfer taxes, real estate lawyer fees and home inspection fees. Mistake #3: Buying Based Solely on Looks Have you ever stepped foot inside a house and it became love at first sight? You see everything youre looking for in a home: granite countertops, stainless steel appliances and an open kitchen. Youre ready to make an offer right then and there. But before you do, take the time to look at the bones of the home. Im talking about the roof, windows, furnace and structure. Anyone can install a new backsplash in a kitchen or toss some fresh paint on the walls, but replacing something significant like the roof can cause a lot of stress. Dont get distracted by the stuff thats supposed to wow homebuyers. You want a home thats sizzle and substance, not just sizzle. Mistake #4: Skipping the Home Inspection In a hot housing market, when youre competing against multiple buyers for a house, you may think that including too many conditions can cost you your dream home. But what is worse than losing your dream home? Winning what turns out to be your nightmare home. For example, the home could have flooding issues. But if you dont know the signs to look for youll totally miss it. Thats an expensive mistake. A home inspection sounds like a lot, but once you get the report youll be happy you did it. This is especially important for older houses. The report will provide you with a handy checklist of all the things you should do to make sure your home is in great shape. Dont cheap out on it. Mistake #5: Not Shopping Around for a Mortgage with your Mortgage Broker We comparison shop for everything from TVs to vacations, but so many people just take whatever mortgage their bank offers them. Theres nothing wrong with your local bank branch being your first stop for a mortgage, but it shouldnt be your only stop. By just taking the first offer, youre likely leaving money on the table. Buying a home is quite possible the single-biggest financial transaction of your lifetime. Let that sink in for a moment. Your local bank may have the best mortgage, but you wont know for sure without shopping around. And the best way to do that is with an experienced mortgage broker. When youre buying a home for the first time, you dont have to be alone. When you leverage a team of professionals, including a mortgage broker, real estate agent and real estate lawyer, your first homebuying experience is more likely to be a pleasant one, setting you up for financial success for years to come.


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