Knowing how much you can afford

This is one of the most important steps on your journey to becoming a home owner. 

Reach out to a Mortgage Specialist as soon as possible, they will help you understand your financial position and design an action plan if needed to achieve your goals.

Getting a pre-approval and having the money for your down payment set aside and ready, will help you and your Realtor® define your buying limits, save you time, keep expectations within realistic boundaries and provide a solid ground to negotiate. 

Feel free to play around with some numbers by using the calculator below! 

Have any questions for me? Need some Mortgage Specialist referrals? Feel free to reach out to me anytime. 

How to set up your down payment amount:

• $500k or less - 5%
• $500k to $999,999.00 - 5% on the first $500k and 10% on the balance
• $1M or more - 20%

More info: How much you need for a down payment - Canada.ca

About closing costs:

• This amount varies, but as a buyer you will typically have Home Inspection costs and Lawyer fees.