How
much will I need for my initial investment in my new home?
You'll need a combination of a down payment and closing costs.
Down payment
The money that you pay up front for a house is the down payment.
These payments typically range from 5 to 25% of the total
value of the home. The obvious source of money for your down
payment is either your savings or the proceeds from the sale
of a home you already own.
While it is possible to buy a home with as little as 5% down,
the amount of your down payment will determine whether you
will have a conventional mortgage or an insured, high-ratio
mortgage.
What's the difference?
Conventional mortgage: Your down payment is at least 25%
of the purchase price.
High-ratio mortgage: Your down payment is less than 25% of
the purchase price and must be insured by CMHC or GEMI. An
insurance premium will apply.
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In
this section, discover the steps that will prepare you to look
for a home. I provide details on everything from questions to
ask Me, to getting your finances organized.
Once
you have decided to sell your property, the first thing is to
list your property – establishing with Me the terms and
conditions of the sale.
House
hunting begins at home... with planning. Before you grab
the road maps and hit the streets, you need to know how
expensive a house you can afford to buy.
Moving
is definitely not easy, but this section offers tips to
make the whole experience easier, less trying, and less
expensive. 
