Donation Choice: " In Support of " The Winnipeg Humane Society

A Home is a Big Purchase

A home is a big purchase and it's probally the most expensive thing that you will ever buy, and there are lots of expenses you might not even know about.
Somes of them include:
 Cost of Buying = One Time Cost Monthly Cost
  Down Payment Mortgage Payment
  Legal Fees Utilities
  Land Transfer Tax House Insurance
  Title Insurance Property Taxes
  Inspection Fees  

For example: If you purchase a house for $ 200,000
will need a minimum Down  Payment of (5%)  = $10,0000 and an additional amount of approximately $ 4,000 for  closing costs = $ 14,0000.

Closing Costs are Typically 2% of the Purchase Price

Use the Mortgage and the Land Transfer Calculator to see how much you can afford

  2). Figure out how much you can Afford

 Before you start looking for your dream home lets figure out how big you can dream.
 Knowing your true budget is the first and most important step in buying a house.

 Determining the mortgage you can carry is based on a relatively simple calculation of  the loan amount, down payment, interest rate and ammortization period.

 A good rule of thumb when figuring your monthly housing cost is that it should not exceed  32% of your gross family income or 40% of your gross monthly income.

 3). Get your Mortgage Pre-Approval