The Vandusen’s Buy Their First Home

Alex and Rose Vandusen were starting their life together.  Rose was just finishing Simon Fraser University, they were recently married, and now were ready to buy their first home … a condominium in Port Coquitlam, BC.

Income:
Alex had a full time salaried job as a senior manager in a retail store and Rose was starting her new career as a teacher.  As Rose didn’t have a full time teaching position and Alex qualified for the mortgage on his own, they purchased the condo in Alex’s name only in the event Rose may be able to leverage her First Time Buyer benefits in the future.

Down payment:
They both worked part time during school and were able to place enough aside for 5% down payment.

With the right advice:
They bought their first home.  Rose preserved her First Time Buyer benefits.  Also, they used one of our strategies that reduced their amortization from 30 years to 26.5 years in just 6 months which sped up their mortgage interest savings.

Their story continues here:  Family Sells & Buys A Bigger Home