Interested in buying a home but aren’t sure how much you’re qualified to borrow? Try our online Mortgage Qualifier, or Apply Online for a League Savings pre-approved mortgage.

Or, if you’re interested in finding out more about what’s involved in a home purchase, check out some information below or feel free to contact us!

Property Details:

Deciding how much you can afford to spend on your new home is only the beginning when it comes to a home purchase. You also need to make important decisions like what you are looking for in a home and what area you would like to be in.

Try out our Home Buying Checklist to help you make such an important decision!

Real Estate Agent:

A home purchase is likely to be the most significant financial decision you will make. It is important that you are comfortable with the process of finding a home as well as  the actual decision to purchase. A reputable Real Estate Agent can help make this process run smoothly.

Down payment:

The amount of the down-payment on a home is most often dictated by what is required, but if you have more available should you increase your down-payment?

While the minimum down payment permitted is 5% of the purchase price of the home, it is always best to put as much as possible towards the purchase. The more you put down, the lower the mortgage, resulting in a lower, easier to manage payment.

Try out our Amount Down Calculator to determine how much you will need for a down payment for the home you want!

Closing Costs:

Aside from the down-payment (a minimum of 5% of the purchase price) there are other costs to consider. These costs include:

  • home inspection fee
  • appraisal fee
  • legal fees
  • survey certificate
  • deed transfer tax
  • home insurance
  • prepaid taxes
  • fuel and tax adjustment
  • courier fees and registration fees

To see more about these fees, go to the Closing Costs Worksheet.

Additional Costs to consider:

  • Moving Costs
  • Repairs and Renovations
  • Appliances
  • Set up for utilities

If you are considering renovations upon purchase or in the near future, please contact us about our Purchase Plus Improvements product.