We will also go over closing costs with you, like land transfer taxes, legal fees and other disbursements. A good rule of thumb is to budget about 3% of the purchase price for closing costs. And don't forget: if you buy a new home from a builder, you'll pay 5% GST on the total purchase price.

Before you're pre-qualified, we will run a credit bureau report on you and ask for written confirmation of income and how much you plan to put down on your purchase.

Once you're pre-qualified, the interest rate is guaranteed for 60 to 120 days from the time of your application. If rates drop, you'll get the lower rate; if they rise, you're covered. And just because you pre-qualified by a certain financial institution, you're by no means committed to that lender. We'll shop the market to get you the best possible deal!