The Mortgage Process
What Can I Afford?
Mortgage pre-qualification can save a great deal of time and effort for potential purchasers. By taking the guess work out of what you can afford, you can spend more time looking at properties that suit your lifestyle as well as your budget.
Affordability Calculator
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Please Note: The information entered in this calculator is not submitted or collected in any way.
Additionally, this calculator is for planning purposes only and may contain information which is out of date or inaccurate, always consult a professional Financial Advisor before making personal financial decisions.
Closing Costs:
The financing process differs depending on you and what you are buying. Below you will find listings of your responsibilities. Not all of the costs may apply to you.
- Legal Fees
- Land Survey Costs (if applicable)
- Property Taxes (depending on the time of year)
- Property Transfer Tax- This is based on purchase price and is 1% of the first $200,000 and 2% of the balance.
You may be exempt from paying property purchase tax if you are a first time buyer. Contact one of our brokers for details. - Appraisal Costs
- Home Insurance
- Strata Costs (if applicable)
- GST (if applicable)
- Adjustment Costs (any other costs that have to be worked out between a seller and buyer, i.e.: tenants deposits)