Purchase Property
Buy your dream home and shop for the lowest rates with one application
Whether you are a first-time home buyer or a seasoned real estate investor, we can help you explore your options with all of the major mortgage lenders with one application and get the most competitive offers on the market.
or call 1-888-794-1464
Smart money advice for Canadian homeowners
360Lending is an award-winning digital mortgage brokerage. See what thousands of clients have to say about their experience:
Learning Opportunity
Using a mortgage broker to buy a property
In addition to helping you qualify, our team can advise you on the applicable government incentives (i.e. first-time home buyers), the minimum down payment, mortgage insurance, estimated closing costs, etc.
Buying a property with 360Lending:
1
First-time home buyers
Navigate the rules for government incentives, such as the First-time Home Buyer Tax Credit (HBTC), Home Buyers' Plan (HBP), the Tax-Free Home Savings Account (FHSA), and the Ontario land transfer tax refund, etc.
2
Self-employed individuals
Help self-employed professionals qualify for mortgages using non-traditional income documents (i.e. bank statements and invoices) to account for business expenses and write-offs.
3
Real estate investors
Assist in qualifying up to 8 investment properties for programs designed specifically for real-estate investors.
4
New to Canada
For those who are permanent residents or those who have applied to become permanent residents with little-to-no Canadian employment or credit history.
Invested $80,000as downpayment
Secured $22,320mortgage insurance
Qualified for $742,320total mortgage amount
Case Study: Buying for the First Time
Robert and Kay are getting married and they are first-time home buyers looking to purchase their starter home just outside of the city. They are both young working professionals with strong credit histories and low debt-to-income ratios.
The couple saw many listings and finally put a deposit on a spacious $800,000 bungalow in Innisfil, Ontario. They wanted to put the minimal down payment so that they could preserve some capital for closing costs and furniture.
How 360Lending helped Robert and Kay buy their first home
We advised that the minimum down payment for an $800,000 property would be $55,000 or 6.88% of the purchase price. However, they will need to qualify for CMHC insurance since their down payment is less than 20%.
Robert and Kay will only pay for the provincial portion of the land transfer tax since their property is outside of Toronto, and they will also receive the maximum rebate of $4,000 as first-time home buyers.
Results
Robert and Kay qualified for CMHC insurance, and the insurance premium of $22,320 was added to their $745,000 mortgage for a total of $774,800.
Find out how much you will need for your purchase:
-
CMHC insurance
+$0
Provincial$0
+Municipal$0
-Rebate$0
Land transfer tax
$0
Total mortgage
$0
Mortgage payment
$-/month
* The information presented is for illustrative and educational purposes only.
Ready to explore your mortgage options? Here's what you'll need
We recommend getting the following documents ready to ensure a seamless experience:
2 valid IDs (i.e. passport)
Direct deposit (or void cheque)
Home insurance
Agreement of Purchase and Sale
MLS Listing
T4s from the past 2 years & pay stubs (salaried or hourly)
Bank statements (self-employed or retired)
360Lending empowers families with tools for better decisions and prioritizes client care for success.
9040 Leslie St, Unite 215
Richmond Hill, Ontario, L4B 3M4
Mon-Wed9am-8pm
Thurs-Fri9am-5pm
Sat-SunClosed
