Buying Your Next Home
Before you start the home search, get prepared, run the numbers, check your budget! Let us help you save time and money!
Steps to Buy a Home in Canada
1. Determine your budget. Know how much you're comfortable to use towards housing expenses.
2. Get a pre-approval. This will help you when finding a home that fits within your budget. You will also have the option to lock in a rate up to 120 days.
3. Start home shopping! This is the fun part!!!
4. Review current best options. Once you have an accepted offer to purchase, we will review the best rate options and you can select whichever one best fits your needs
5. Finalizing the purchase. We will be here to help you every step of the way. Once we have the full mortgage approval from the lender, lender will then send the file to the lawyer.​​
Additional details you may want to consider
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Currently own a home?
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will you be selling it then moving into your new home?​
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will it be rented out?
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Where is down payment coming from?
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will it be from the existing home?​
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Are there any penalties to break the existing mortgage?​
How long does mortgage approval take?
Turnaround time may vary by lender. When putting a conditional offer to purchase, its best to have 7 - 8 business to meet conditions. Some lenders may have approvals on the same day.
How much down payment for a house?
What is the minimum down payment to buy a house?
Minimum down payment for Owner Occupied property is
5% - first $500,000 of the purchase price or less
10% - amount above $500,000-$999,999
20% - property value $1,000,000 or more (subject to sliding scale)
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Minimum down payment for Rental Property is 20%