These can include legal fees, land transfer taxes (if applicable in your province/municipality), appraisal fees, and home inspection costs. It’s important to budget for these.
What are “closing costs” besides the down payment? Read More »
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 »
