I have my downpayment saved. What are the other costs I need to know about?

Are you ready to buy a home? Make sure to budget for upfront purchase costs to avoid any surprises! During the underwriting process: Appraisal fee (approx. $500) Home inspection (approx. $500 At the lawyer’s office: Closing costs (approx. 1.5% of your mortgage or purchase price): land transfer tax, title insurance, legal fees and disbursements Prepaid […]

What are the steps in the mortgage process?

Each individual mortgage process is unique but generally, the following steps apply: Initial conversation with me to discuss your situation Fill out my online application Send initial documents for review Follow-up conversation to discuss your options and the next steps Submission of your application to a lender Sign the commitment letter and submit additional documents […]

What documents do I need to send?

I’ll need to get a number of documents before submitting your application or pre-approval. Examples include: Photo ID and SIN to run a credit check for all borrowers A mortgage current statement and property tax bill Income verification for all borrowers: A letter of employment, 2 recent pay stubs, recent T4s or T1 generals if […]

At what point in the home-buying process should I contact a mortgage agent?

Anytime. When shopping for a home, most people reach out to a real estate agent first. Once you know the steps in the home-buying process – whether it is your first or second home – it is important to ensure your finances match your goals. I can collect information and provide a pre-qualification (or pre-approval) […]