A well thought-out budget is a solid base when buying a home and determining what you can afford. Talk with your advisor for help in determining your financial position.
Along with your home insurance, think about protecting your most important asset... you! That’s what our life and disability loan insurance is for!
Open or closed loan? Fixed or variable rate? There are many details to think about! A mortgage loan that fits your needs is essential: we don’t all have the same profile!
Once you have found your heart’s desire, you have a major payment to make up front: the down payment. To pay, you have 2 main options.
If you have already contributed to your RRSP, you already have the chance to withdraw the money to pay your down payment.
RRSPs made easy
You have never contributed to your RRSP? You can still take advantage of the HBP.
Your TFSA is used to make your money grow tax-free. You can contribute up to $6000 per year!
TFSAs made easy
The high interest account allows you to save more on each added dollar.
The best way to save? Set up automatic transfers! Remember that the higher the down payment, the lower your mortgage and your interest will be!
There are also starting costs when buying a home: you should allow for 3% to 5% of the purchase price of your home to cover the following costs:
Good to know: you can pay for these expenses with the help of a personal line of credit. Talk it over with your advisor!
Our advisors are here to help from start to finish in your home buying process.