Home Buyer Check List

   1. Get Mortgage Pre-approval.

  • Call and make an appointment to meet a mortgage advisor with your bank branch.
  • They will need your tax forms, letter of employment & pay stubs, & credit report.
  • You need a minimum 5% down payment.
  • Once approved you will have the current best interest rate locked in for 90 to 120 days.


   2. Have access to funds for an offer deposit.

  • When your offer is accepted, you need to provide a deposit of ideally 5% of the purchase price within 24 hours.
  • You need those funds accessible.


   3. Knowing your budget

  • you can now see what type of home it affords in different areas of the city.

 4. Understand the additional costs

  • Land Transfer Taxes – Toronto and Ontario
  • CMHC mortgage insurance if you have less than a 20% down payment.
  • Lawyer fee
  • Moving costs.
  • Renovation costs, from paint to appliances (if needed).
  • Costs to furnish your new home.
  • New equipment needs from a BBQ to a lawn mower.


5. Understand the additional costs of maintaining a home and how it affects your budget

  • Property Tax
  • Utilities: gas, hydro, water, sewage & garbage removal
  • Home insurance
  • Internet
  • Phone
  • Cable TV




For additional information or to set up an interview with us please call us at 416-451-5758