It varies, but typically from starting your search to closing can take anywhere from a few weeks to several months, depending on market conditions and your preparedness.
How long does the entire home buying process usually take? Read More »
Yes, programs like the RRSP Home Buyers’ Plan and the First Home Savings Account (FHSA) can help. We can explore if these are a good fit for you.
Are there special programs available for first-time buyers? Read More »
A pre-approval estimates how much you can borrow and often includes a rate hold. It shows sellers you’re a serious buyer and helps you shop with confidence.
What exactly is a mortgage pre-approval? Read More »
In Canada, the minimum down payment depends on the home’s purchase price. It starts at 5% for homes up to $500,000. We can discuss your specific situation and how mortgage loan insurance works.
How much of a down payment do I actually need? Read More »
Funds can be used for anything you wish: supplementing retirement income, home renovations or accessibility modifications, covering healthcare expenses, paying off debts, travel, or helping family.
What are the common uses for funds from a reverse mortgage? Read More »
Reputable Canadian reverse mortgage products, like the CHIP Reverse Mortgage, guarantee that you (or your estate) will not owe more than the fair market value of your home at the time it is sold, provided property taxes and insurance are kept up to date and the home is well-maintained.
What if my home’s value drops below the loan amount? Read More »
The loan is typically repaid when you sell your home, permanently move out, or the last borrower passes away. Your estate is given ample time to settle the loan.
When does the loan need to be repaid? Read More »
Yes, absolutely. You retain title and ownership of your home, and you’re responsible for maintaining it and paying property taxes and insurance.
Will I still own my home? Read More »
The amount usually depends on your age, your home’s current appraised value, and the lender’s specific programs. Generally, the older you are, the more you may be able to borrow.
How much money can I typically access? Read More »
