FAQ (Frequently Asked Question)

What costs are involved with obtaining a mortgage?
Answer

Usually we determine your closing costs to be 1.5% of the purchase price. This includes legal fees, Land Transfer Tax, Title insurance, the PST payable on the mortgage insurance, etc.. Even if you are a first-time home buyer and you are eligible to the Land Transfer Tax rebate, most lenders require confirmation that you have the 1.5% in your bank account.