FAQs

Clear information is the foundation of a confident move. I’ve put together answers to the most common questions to help you navigate the process with total clarity.

How much of a down payment do I actually need?

In Canada, the minimum down payment for a home under $500,000 is 5%. For homes between $500,000 and $1 million, you need 5% on the first $500k and 10% on the remaining balance. If the home is over $1 million, a 20% down payment is required.

What are 'closing costs' and how much should I budget?

What is "Assessed Value" vs "Market Value"?

Does my credit score matter when buying a home?

Is a pre-qualification enough?

How does my credit score affect my mortgage rate?