Buyer's Guide | MO Realty Team

Start with your number

Two calculators that share one set of numbers. Rates are pre-filled from today’s typical offers.

Today’s typical rates — 5-yr fixed — 3-yr fixed — variable

Pre-filled below · — · change it if you have a real quote

What can I afford?

Works the other way round: your income in, a realistic price range out, using the federal stress test lenders actually apply.

Annual household income

Monthly debt payments

Down payment saved

Your rate (%)

You could likely buy up to —

Monthly payment at that price —

What will this home cost me?

Enter the property once. You get the monthly payment, the land transfer tax, and the cash you need on closing day.

Purchase price

Down payment

Interest rate (%)

Amortization

Where

First-time buyer?

Monthly payment —

Cash needed to close — Down payment + closing costs

Estimates only, not a mortgage approval. Lenders differ, rates change daily, and your actual qualification depends on your full file. Land transfer tax shown uses the standard Ontario and Toronto brackets; homes over $3 million have higher Toronto tiers, so confirm those with your lawyer. Talk to a mortgage broker before making an offer.

Six steps to your keys

What happens, in order. We walk you through each one.

Our full buyer process →

Get pre-approvedKnow your budget before you look. We connect you with brokers who shop 40+ lenders.
Decide what mattersBedrooms, area, commute, schools. Wants and needs, sorted.
Tour with the dataSold comparables and days on market for every home we see.
Offer with a strategyRight price, right terms, right conditions. No overpaying.
Protect yourselfInspection, financing, status certificate. You know what you sign.
Close and move inLawyer, walkthrough, keys. We are there on day one.

Help for first time buyers

Four programs most people under use. Stack them.

$35,000Home Buyers’ PlanBorrow from your RRSP tax free for the down payment.

$40,000First Home Savings Account$8,000 a year, tax deductible in, tax free out.

$8,475Land transfer tax rebatesUp to $4,000 Ontario plus $4,475 more in Toronto.

30 yearsLonger amortizationEvery first time buyer, and any new build, with under 20% down.

The stress test: lenders qualify you at the higher of your rate plus 2%, or 5.25%. That is why pre-approval comes first.

Things buyers ask us

Tap any one to open it.

How do I stack the incentives?

Use the Home Buyers’ Plan for up to $35,000 from your RRSP, an FHSA for up to $40,000 more, and the land transfer tax rebates on closing. A couple can each use the HBP and an FHSA.

What protects me before I firm up?

A home inspection before you waive conditions. For a condo, have your lawyer read the status certificate: it shows the reserve fund and any special assessments. Arrange home insurance before closing; your lender will ask for it.

Condo or freehold?

Freehold: you own the land and the building, no monthly fee, all the upkeep is yours. Condo: lower entry price and less upkeep, but a monthly fee. Check the reserve fund study and the board minutes.

What will closing cost me?

Plan for 2 to 4% of the price on top of the down payment: land transfer tax, legal fees, title insurance, inspection and adjustments. The cost calculator above shows your exact figure.

How do I judge a neighbourhood?

Schools, transit, and what is planned nearby. We check development applications around any home you are serious about, because a tower two streets over can change your resale.

How do you decide what to offer?

From the sold comparables, days on market and how motivated the seller is. We know when to offer firm and when to insist on conditions, including in bidding wars.

Buy with the numbers in front of you.