Buying a home · Personal mortgage guidance
Home purchase mortgages.
Find a home you love. Understand the mortgage that comes with it. I’ll help you work through your budget, lender options and next steps before you commit.
Speak directly with Samir Hire. English, Hindi and Marathi.
Financing your home purchase
A mortgage plan before the moving boxes.
A home purchase mortgage finances the part of your purchase price that your down payment doesn’t cover. The right fit depends on your finances, the property and the terms you’re comfortable taking on.
Whether you’re still browsing or have an accepted offer, bring me the questions you have now. We can review what’s ready, what needs attention and which lender options may suit your purchase.
This page focuses on buying a home to live in. Buying a rental property, building a home or arranging renovation financing? Mention that at the start so the financing can be assessed for its actual purpose.
Budget & down payment preparation
Know what you can put towards the home.
Start with a payment you can live with, the cash you have available and the costs of completing the purchase.
The FCAC’s mortgage preparation guide explains how income, debts and housing costs affect qualification.
Monthly ownership costs
Allow for mortgage payments, taxes, insurance, utilities, maintenance and any strata or condo fees. A lender’s maximum is not necessarily your preferred budget.
Down payment & source of funds
The amount required depends on the purchase and lender criteria. Keep records showing where the funds came from, including any family gift.
Closing costs & a cash cushion
Plan for legal work, adjustments, moving expenses and other purchase costs. Ask which taxes, appraisal costs or insurance premiums apply to your transaction.
Documents lenders may request
Get the essentials together.
You don’t need a perfect file to start a conversation. These are common document groups; the exact requirements depend on your situation and lender.
Identity & income
- Current identification.
- Employment confirmation and recent pay information.
- Tax or business-income records where requested.
Down payment & available funds
- Recent savings or investment statements.
- Records explaining transfers or large deposits.
- Gift documentation if family is contributing.
Debts & financial commitments
Prepare details of loans, credit balances, support obligations and other financial commitments. Include any existing property or mortgage.
The home you’re purchasing
Once you have a property, the lender may need the signed purchase agreement, listing details and further property documents or an appraisal.
For the first enquiry: share your purchase stage, approximate budget and key questions. Ask how to provide documents before sending identification, banking records or other sensitive information.
From an accepted offer to closing
An accepted offer. A clear set of next steps.
The work changes once there’s a specific home and a completion date. Here is the general financing sequence to discuss for your purchase.
Review the purchase
Share the agreement, financing deadline and property details. Identify what the lender needs to assess.
Compare the terms
Review the available rate, payment structure, fees and conditions before choosing a lender option.
Work through conditions
Provide outstanding documents and address lender requests. Check which conditions remain before treating financing as final.
Prepare for completion
Follow your legal professional’s signing and funds instructions. Funding depends on the lender’s requirements being satisfied.
Pre-approval is a starting point. It does not guarantee a mortgage on a particular home. The lender still needs to accept the property and confirm that its conditions are met. Discuss financing subjects with your real estate and legal professionals before removing them.
Property considerations
The home matters to the lender, too.
Buying a condo or townhouse?
Include recurring strata or condo costs in your budget. Property review may involve additional documents, so flag the property type early.
For a BC strata purchase, ask your real estate or legal professional which current documents to review, including the Form B Information Certificate.
Buying a detached home?
Discuss the property’s condition and intended use as well as its price. An appraisal or other property information may be needed.
If the listing includes a suite, unusual ownership arrangements or planned renovations, raise those details before assuming standard financing will fit.
Personal guidance
You can ask the question before you know the terminology.
I’m Samir Hire. My role is to help you understand your options and the steps involved, so you can make decisions with the details in front of you.
Buying your first home, purchasing after a move to Canada or trying to understand pre-approval? Start with your situation. We’ll talk through what needs a closer look.
Comparing mortgage options
Look beyond the advertised rate.
A lower rate is one part of the decision. Ask how the mortgage works if your plans change.
- Rate & payments
- Understand whether the rate is fixed or variable and what could change your payments.
- Term & amortization
- The term is the contract period. Amortization is the estimated repayment timeline. Both affect the borrowing cost.
- Flexibility
- Review prepayment privileges, early-exit penalties and any conditions on moving the mortgage.
- Fees & conditions
- Ask for an explanation of applicable broker, lender and third-party costs, and the requirements for funding.
The FCAC explains mortgage terms and amortization in more detail.
Should I speak with Samir before making an offer?
Yes. An early conversation gives you time to review your finances and what a lender may need. If you already have an accepted offer, share the financing deadline straight away.
Does pre-approval mean the home is approved?
No. A pre-approval concerns your borrowing position under the lender’s criteria. Final financing also depends on the property and outstanding conditions. The FCAC’s pre-approval guide explains the distinction.
Can family help with the down payment?
A family contribution may be an option, subject to lender and insurer requirements. Explain whether the money is a gift or a loan, and ask which records are needed. Don’t assume both are treated the same way.
What will my purchase mortgage cost to arrange?
Costs depend on the lender, product and purchase. Ask which broker or lender fees apply, who pays them and when. Budget separately for your legal professional and other closing expenses. Ask for a written breakdown before you proceed.
Can I start without sending financial documents?
You can begin by explaining what you’re buying, where you are in the process and what you need help with. A formal assessment will require information and documents. Confirm the document-sharing process first.
Let’s plan the mortgage for your next home.
Tell me whether you’re starting your search or already have an offer. We can work out what to review next.
General information, not a mortgage commitment or a guarantee of approval. Available financing, rates, fees and document requirements depend on the borrower, property, lender and any insurer. Obtain advice for your circumstances before making a financing decision.