Leah Zlatkin featured in CMP Magazine: ‘Renters urged to plan early as homeownership hurdles persist’

Licensed mortgage broker Leah Zlatkin said she has seen a shift in mindset among prospective buyers, with more clients scrutinizing their finances and mapping out long-term goals before making the leap from renting to owning.

“Renters often think the only hurdle to homeownership is saving enough for a down payment, but that’s just one piece of the puzzle,” Zlatkin said.

“Building a strong credit history, managing debt, and understanding all the costs of buying a home are just as important. The earlier renters start preparing, the more options they’ll have when it’s time to get approved for a mortgage.”

Zlatkin pointed out that while a down payment is a major milestone, first-time buyers frequently underestimate the additional upfront costs.

“Closing costs typically range from 1.5–4% of the home’s purchase price and include expenses such as legal fees, land-transfer taxes, and title insurance,” she said.

“Setting aside funds for moving and an emergency buffer ensures new homeowners aren’t left financially stretched.”

Credit and debt management remain central to mortgage readiness. “Lenders rely heavily on credit scores to determine eligibility and rates,” Zlatkin said.

She advised renters to keep credit card balances below 30% of their limit, pay bills on time, and avoid new credit applications in the year before applying for a mortgage.