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What You Need to Know About Purchasing a Property

Apply. Shop. Buy. Mortgages made simple.

Deciphering Down Payments

This is the amount you have to put towards your house upfront. The minimum down ...

This is the amount you have to put towards your house upfront. The minimum down payment required will change with the value of the house. If you're buying under $500,000, you will need 5%. Then up until $999,999, you will need 5% of the first $500,000 + 10% of remaining balance. Over a million and you are looking at a minimum of 20%. We can help you calculate your down payment so when that special house lists, you're ready to offer with certainty.

Collect a Down Payment Creatively

There are many other creative ways to come up with a down payment aside from ...

There are many other creative ways to come up with a down payment aside from stashing savings under your mattress. The Home Buyers Plan is a government program that enables buyers to withdraw up to $35,000 from RRSPs for their down payment. Other options include; investments, money from the sale of real estate, equity borrowed against real estate, inheritance money, or generous gifts from family members (Thanks Mom!). To avoid a hassle, always verify with us that lenders will give a thumbs up to your down payment source.

Know Your Limit, Shop Within It

Before you start scrolling MLS, you’ll want to have an idea of what you can ...

Before you start scrolling MLS, you’ll want to have an idea of what you can afford to buy. Our affordability calculator allows you to plug in your details online and get a quick estimate of your purchasing budget. Some of the numbers you will need to provide are household income, down payment amount, and taxes. Our calculator considers current regulations and underwriting guidelines to ensure accuracy. While this calculator provides a good baseline to start browsing, it is NOT a pre-approval. Use our affordability calculator now, so you can start shopping with a plan!

Save Your Rate with a Pre-Approval

Take another step towards home ownership by getting pre-approved today. First we’ll determine how much ...

Take another step towards home ownership by getting pre-approved today. First we’ll determine how much you can afford, then we’ll shop around to find you a mortgage with the lowest rate (and terms that match your needs). The factors that lenders will use to decide whether you qualify for a mortgage are your income, debt, employment history, and credit history. Most lenders will allow us to hold your rate for 120 days, just enough time to find your perfect home and negotiate a price you love.

Mortgage Terms Trump Low Rates

Your best mortgage is so much more than a low rate. Lower rates often come ...

Your best mortgage is so much more than a low rate. Lower rates often come with stricter terms and more demanding qualification standards. Avoid painful surprises throughout your mortgage term by looking ahead before you lock in. Pay attention to whether the rates you are eyeing are fixed or variable rates. With a fixed rate - interest stays the same for the entire term. While a variable rate means the interest can change throughout the term. Once we have your application, we will negotiate with our trusted lenders to find a mortgage that's right for you. We promise to highlight these tiny details that make a big difference.

Be Aware of All Costs

Don’t let unexpected fees derail your plans. Be prepared to have cash on hand to ...

Don’t let unexpected fees derail your plans. Be prepared to have cash on hand to cover fees for a home inspection, appraisal, land transfer tax, legal fees, and disbursements. As part of your loan approval, banks will often want to see proof of 1.5% of your purchase price set aside for closing costs, separate from your down payment. With over 60 years of combined experience, our team has seen it all. When you share your purchasing plans with us, we will make sure you're aware of all the fees related to your particular property, if applicable (ie: land survey, water quality inspection, septic, etc.) We consider every detail, guaranteeing your mortgage journey to be hassle-free.

Take Your Next Step. Towards Purchasing.

“Good fortune happens when opportunity meets with preparation.”
- Thomas Edison

Purchasing Explained

Mortgage resources to boost your learning and build your buying confidence.

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Affordability Calculator

Browse MLS with more price precision using our affordability calculator.

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Rave Reviews From Other Home Buyers

We work hard to make your home purchase easy.

“Ryan and Spin Mortgages are amazing! As first time home buyers, we were a bit overwhelmed by the fast-paced real estate market. We definitely recommend Spin Mortgage to all home buyers who want to get a great rate on their loan in a short time, painless process.”

“I had a complicated purchase situation that required a lot of time and effort from Steve at Spin Mortgage. Despite me changing my needs more than once, Steve remained patient throughout the process. He explored options with various lenders and got me an excellent rate, enabling my purchase. ”

“I just got a mortgage through Spin on a house purchased. There were multiple offers on the property and they were able to turn everything around in one day so that I could get the place. I would definitely recommend these guys to anyone looking for a mortgage.”

“We are very happy with the experience and our outcome. I would highly recommend Ryan and Spin Mortgage!”

“Highly Recommend this company, Ryan and team at Spin is a very hardworking professionals and goes over and beyond expectation. As first time buyers we had no experience on this and he was very informative and transparent about things that we needed to provide. ”

“Working with Ryan for obtaining a mortgage for our first property and now our second has been an amazing experience. He got us amazing and competitive rates, was prompt and clear with his communication, and was an overall pleasure to work with. ”

“Spin is a great firm and I would recommend them to anyone buying a property. We worked with Ryan who was very knowledgeable, efficient, and took the time to explain different potential mortgage scenarios to suit our needs. He was readily available by phone or email throughout our mortgage application process.”

“It’s the second time I’ve gone to Steve for a mortgage. I think most people underestimate how important it is to have a good mortgage advisor but it affects not just rates, but also can mean the difference in closing or losing a purchase.”

Sarah D.
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“Bonnie and Jeff are an absolute pleasure to work with and incredibly knowledgeable. They were patient, understanding and most importantly, allowed us to purchase our dream home, we can’t thank them enough and highly recommend them!”

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