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 [...]

  • 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 [...]

  • Understanding Mortgage Terms and Amortization

    When it comes to securing a mortgage in Canada, two critical concepts you need to understand are mortgage terms and [...]

  • How To Get a Mortgage

    Getting a mortgage is a significant step toward homeownership. However, the process can seem complex and overwhelming. This guide will [...]