New Home Buyer Financing

Get from "I want a home" to "here are your keys" with no surprises on the way.

A clear, step-by-step guide to financing your first home, from budget to closing day.

The steps, in order

Know your budget. What you can borrow and what you are comfortable paying each month are different numbers.
Plan your down payment and closing costs. Closing costs such as legal fees and land transfer tax are in addition to the down payment.
Get a pre-approval. It helps you shop with a realistic price range. It is not a guarantee of a final mortgage.
Find your home and make an offer.
Finalize the mortgage and prepare for closing.

Programs that may help

First-time buyers may be able to use government programs such as the First Home Savings Account (FHSA), the RRSP Home Buyers’ Plan and land transfer tax rebates in Ontario and Toronto. Eligibility and limits change, so we help you check what applies to you. [Add current figures after verifying with CMHC and CRA.]

Costs people forget

1 Land transfer tax (Ontario, and Toronto if you buy in the city)

2 Legal fees and title insurance

3 Home inspection and appraisal

4 Moving costs and home insurance, which is needed before closing

We can also guide you on [Home Insurance] and [Life Insurance] once your mortgage is in place.

Down payment rules, programs and mortgage qualification requirements are set by lenders and government and can change. Approval is not guaranteed.

Protect your new home

It is a common concern. Our approach is simple: we explain every option, the trade-offs and the costs, and you decide. We will also explain how Corefield is paid. [Confirm compensation wording with Corefield.]

Worried about being pushed into the wrong mortgage?

Mortgages are provided by independent, licensed third-party lenders and mortgage professionals introduced through Corefield. Corefield provides consultation and facilitation only.

12 Cranfield Road
East York, Toronto, ON
M4B 3G8
Canada

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About Us

Services are provided by independent, licensed third-party providers. Corefield provides consultation and facilitation and is not a lender, insurer or broker.
Information on this website is general and is not financial, legal, tax or insurance advice. Approval for loans, mortgages and insurance, and all rates, terms, premiums and coverage, are set by lenders and insurers and may change. Please read your policy or lending agreement for full terms.