Next Home Buying and Selling

When you’re buying and selling, you’re looking at realtor fees, HST, legal fees, mover fees, bridge financing fees, discharge fees, property tax adjustment and any utility hookup fees or deposits on your new place.

Our team will work with you to look at the total equity you’ll have from the projected proceeds of your sale, then help you back out your fees and land on a smart number to use for your down payment calculations.

This is something that will be determined by so many factors and totally dependent on your needs and goals.  We’ll help you plan, along with your realtor of course, but the bottom line is that there are no hard, fast rules for the best way to handle this.

No. There are plenty of reasons for not closing both deals on the same day, and we’re able to help you with bridge financing to make sure you’re covered for that situation.  If you think it’s too stressful to do it all in one day, or even if you want to make sure all your renos are done before move-in day, we can make that happen together.

Minimum down payment rules apply to every home purchase.

The current down payment rules are: 5% of the first $500,000 and 10% of any amount above that.

Sure, we can do that, but let’s make sure there’s a compelling reason for us to do that.  Let’s make sure that this mortgage is the best possible fit for your transaction as well as your longer-term life goals.

Porting refers to moving your current mortgage, as is (e.g. all terms, amounts, rate) over and securing it against your new property.  We’ll check and see if that’s an option and make sure if it is an option, that it’s a good option.

Blending is when we’re able to port over your mortgage to the new property, as above, but add in the additional principal amount from buying the new property and adjusting payments (and possibly term) based on the new amount.  Again, let’s see what’s best for you first.