Frequently Asked Questions

In Canada, the minimum down payment is 5% on the first $500,000 of the purchase price and 10% for the portion between $500,000 and $999,999. For homes priced at $1 million or more, a full 20% down payment is typically required (no mortgage insurance needed at 20%+).

Mortgage rates directly determine affordability. Even small rate changes in late 2026 can significantly impact your monthly payment. Use our no-tracking, client-side mortgage calculator to model exact scenarios privately in your browser.

Yes — many lenders offer dedicated "Newcomer to Canada" programs. You can qualify using alternative proof like international credit reports, 12 months of on-time rent/utility payments, or employment letters.

The federal stress test ensures you can afford payments if rates rise. As of 2027, you must qualify at the higher of your contract rate + 2%, or the current benchmark qualifying rate — even with a large down payment.

Budget 1.5% to 4% of the purchase price for closing costs. This typically covers land transfer taxes (provincial/municipal), legal fees, title insurance, home inspections, and adjustments.

Yes — if your down payment is less than 20%, mortgage default insurance is mandatory (via CMHC, Sagen, or Canada Guaranty). It protects the lender and adds to your monthly costs, but premiums decrease with larger down payments.

Leases are usually 1-year fixed or month-to-month. Provincial laws protect against unfair evictions, cap rent increases (e.g., ~2.1% in Ontario, 2.3% in BC for 2026), limit deposits (often one month's rent), and require written agreements. Rules vary by province — check our Rental Guide for details.

Aim for a credit score of 680+, stable income proof, a debt-to-income ratio under 40–44%, and a larger down payment. For newcomers, prepare international credit docs early. Focus on low debt and steady employment — our Buying Guide has step-by-step tips.

Declutter, complete minor repairs, stage key areas, and price realistically based on recent comparables. Timing (e.g., spring/summer demand) and professional photos help. Our Selling Tips guide covers avoiding common pitfalls and maximizing value without agent pressure.

We don't list properties, promote realtors, run ads, collect your data, or sell anything. All tools (like our mortgage calculator) run 100% client-side with zero tracking. Our goal is simple: unbiased, private information so you can make informed decisions on your own terms — just clear help you can trust.