The costs you pay in addition to the purchase price of a home on the day you officially own it include legal fees, transfer fees, and disbursements. These closing costs typically range from 1.5% to 4% of the purchase price, covering various necessary expenses to complete the home purchase.

*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*

Mortgage Education

  • Total Debt Service Ratio (TDS)

    The percentage of gross income allocated for payments of principal, interest, taxes, and heat (P.I.T.H.), along with other debt obligations, [...]

  • Title Insurance

    Title insurance protects property owners and lenders from financial loss due to defects in the title of real property. These [...]

  • Understanding Mortgage Interest in Canada

    Navigating the world of mortgages can be complex, especially when it comes to understanding how interest rates impact your home [...]

  • Breaking Your Mortgage Contract in Canada

    Breaking a mortgage contract in Canada is a significant decision that can have various financial implications. Whether you're considering this [...]

  • Mortgage Payment Deferrals

    Understanding Mortgage Payment Deferrals in Canada In times of financial hardship, homeowners may find it challenging to keep up with [...]