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 Home in Canada
A simple, guided process to help you buy with confidence.
01
Determine your budget
Know how much you're comfortable to use towards housing expenses.
02
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.
03
Start home shopping!
This is the fun part!!! With your budget and pre-approval ready, you can confidently start home shopping.
05
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.
04
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
Additional details you may want to consider
If You Currently Own a Home
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Will you be selling your current home before moving into the new one?
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Will your existing home be rented out instead?
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Will your down payment come from the equity in your current property?
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Are there penalties for breaking your existing mortgage early?
Understanding these factors early helps avoid surprises later in the process.
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.
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-$1,499,999
20% - property value $1,500,000 or more (subject to sliding scale)
Minimum down payment for Rental Property is 20%