1. Get pre-approved
A lender or mortgage broker reviews your income, debts and credit and tells you how much you can borrow. Ask about the rate hold and what could change your approval.
2. Learn the programs
The First Home Savings Account and the RRSP Home Buyers' Plan can help with the down payment. Eligible first-time buyers can also get a land transfer tax refund. Rules change, so confirm with your lender, accountant and lawyer.
3. Budget for closing costs
Land transfer tax, legal fees, title insurance, a home inspection, moving and utility set up. Have these funds ready on top of your down payment.
4. Make an offer
Your offer sets the price, deposit, conditions, closing date and what is included. Common conditions are financing and inspection.
5. Firm up and close
Once conditions are met, the deal is firm. Your lawyer handles the title search, mortgage and transfer, and you get the keys on closing day.
This guide is general information, not legal, tax or financial advice. Rules change, so confirm details with the right professional.