Home Buying
Quick Guide
Thinking of buying a home? You’ve come to the right place.We’ll take you through the home buying experience in this visual snapshot — from helping you decide on a house or a condominium, to how to save for a down payment, and to help you choose the mortgage that is most comfortable for you.
HOUSE
Maintenance
Typically involves more work…you’re responsible for handling all the maintenance.
Convenience
You may need to arrange for outdoor maintenance if travelling.
Security
You may need to invest in home security but it could lower your insurance premiums.
Starting a family
You may have more outdoor space and larger property.
Will that be a house or condominium?
There are advantages to each. It all depends on what’s the better fit for your lifestyle and plans for the future.
CONDO
Maintenance
Typically requires less work since you may not be responsible for shoveling snow or cutting the grass.
Convenience
You can “lock and leave” when on vacation.
Security
Building security may be included in your condominium fees.
Starting a family
A condominium may provide everything you need, but nowadays finding a condominium with more than two bedrooms can be tricky.
Mortgage Basics
Our short videos help you get started on your journey to home ownership:
Flexible mortgage features:
Take a Payment Vacation or a Payment Pause.
Making a down payment:
High ratio mortgage vs a conventional mortgage
Closed vs open mortgages:
Which mortgage works for you?
Fixed rate or variable rate:
Which interest rate option works for you?
Did you know
A larger down payment could save you thousands in interest & reduce your monthly mortgage payment?
How can I find the money for my down payment?
Set up an automatic savings plan. Even small amounts can add up. Use any investments you may have. You may also be able to use your RSP. Subject to certain conditions, a first-time home buyer can withdraw up to $25,000; which could total $50,000 for a couple.
How much home can I afford?
Our quick and easy calculator will help you figure it out.
Ready to get started?
Open or closed? Fixed interest rate or variable interest rate? Our TD Mobile Mortgage Specialists can help you explore your options and choose the mortgage that is most comfortable for you. Arrange to meet a TD Mortgage Specialist in branch, or at a location that is most convenient for you.
