Find out about your mortgage options before you start looking. There's nothing more frustrating than falling in love with a home, only to find out you can’t afford it.
Pre-qualifying for a mortgage is the best way to find out how much you can afford. Your financial institution will look at your income, expenses and debt to determine how much they will lend you. Combine that amount with the money you have for a down payment, and that’s your budget.
Once you have pre-qualified, consider applying for a pre-approved loan. Then, when you find the home you want to buy, it will speed up the purchasing process. For more information about planning your mortgage, see Organizing Finances.
Want to get an idea of how much you can afford? Try our Mortgage Affordability Calculator for a quick estimate.
Mortgages are available through a number of financial institutions; your bank is only one option. Shop around for competitive rates and options.
HLC Home Loans Canada offers a wide range of mortgage products and home financing solutions. Whether you're buying your first home, considering a renovation, or looking into your next purchase, HLC Home Loans Canada has the options, choice and flexibility to meet your specific needs.