Finance Your Home in Ontario

Owning a home will be the single biggest and smartest investment that a person will make. The right consultation will allow you to be an educated real estate consumer in Ontario.

Questions to ask yourself prior to looking for a mortgage or refinancing an existing mortgage.

• What will my down payment be?
• What amount of money will I need to borrow?
• What interest rate can I afford, and obtain?
• What mortgage term should I have?
• What are the privileges and terms for repayment?
• Will my mortgage be conventional (75% advance or less) or will it be a high ratio? (more than 75% advance)
• If my mortgage is high ratio, should I obtain mortgage insurance through CMHC or should I obtain secondary funding, which can be up to 50% cheaper?
• Can I qualify for a no fee first mortgage?
• Should my mortgage be an asset to me if I decide to resell my property?
• Where should I obtain the mortgage information that I require?

Every lender has different qualifying procedures. For more information on mortgage programs and rates, we have provided you with the links to 4 of the major banking institutions. We also have on-site bank representatives who can talk to you about competative, discounted rates that Royalpark has negotiated on behalf of their valued customers.