Introduction

Downpayment & Carrying Costs

Mortgage Dollars

Choosing the Mortgage & Lender

Things to Watch Out For
>credit rating
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negotiating
>homework

Terms of the Mortgage

Land Transfer Tax Schedule

  3. Do some homework

  • Ask about fees!! Just because you are borrowing $100,000 does not mean they will actually give you that amount
  • They may charge an appraisal fee, CMHC/ GE CAPITAL application fee, PST on the CMHC/GE CAPITAL fee and there may be an interest adjustment -BEWARE!
  • Educate yourself on market rates- use the Internet for this -check out a site such as www.imoney.com - they have a table of posted rates -you can even apply to a few lenders online directly!

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