When you buy a home with less than a 20% down payment, the mortgage needs to be insured against default. This type of insurance protects the mortgage lender in case you are not able to make your mortgage payments. It does not protect you.   Are you planning to...

A mortgage is a loan, generally used to buy a property. How much you pay depends on how much you borrow (the principal), the loan’s interest rate, and how long you take to pay it back (the amortization period). Do not be afraid to negotiate interest rates and mortgage...

Finding your perfect home can be a long process. Your REALTOR® will help identify the right type of home for you and continually research new listings in neighbourhoods that meet your needs.   Where do you want to live? Urban, suburban or country? Will you need...

Closing costs are the legal, administrative and disbursement fees associated with buying a home. Understanding these fees will help you budget more accurately. Remember these are additional costs over and above the price of the home.   How much land transfer tax...

After seeing many different homes, you have finally found one worthy of an offer! What are the next steps?   What is an offer? An offer is a formal, legal agreement to purchase a home and is legally binding once accepted by the seller. Offers to purchase a home...

The federal government has assistance programs to help homebuyers. Research government program requirements to see if you are eligible.   First-Time Home Buyers’ Tax Credit – a $5,000 non-refundable income tax credit on a qualifying home. The credit provides up...

Assess your present household budget and your annual income to determine if you are eligible for a mortgage and how much you can comfortably afford.   What do lenders require? Mortgage lenders use two calculations to help determine your eligibility for a mortgage...