Thanks, Your Note Is With Me
I read every inquiry personally and will reply within one business day. In the meantime, here is the groundwork that makes the biggest difference before you buy.
Build the down payment
In Canada you need at least 5% down on the first $500,000 of the purchase price, and 10% on the portion above that. A First Home Savings Account lets you save toward it with a tax deduction going in and no tax coming out.
Get your credit in shape
Lenders look at your score, your history, and how much of your available credit you use. Paying on time every month and keeping balances under about 30% of your limits does most of the work over six to twelve months.
Know your real budget
Your approval is driven by income, existing debt payments, and the stress test. Paying off a car loan or a line of credit often raises what you qualify for more than saving another few thousand dollars does.