WHAT CLIENTS HAVE TO SAY
"Buying or selling a home is one of the largest personal and financial decisions you will make and you need an experienced professional to guide you through the process. When you work with me, you can count on personal, attentive, patient service, excellent knowledge of the area, great negotiation skills and expert selling strategies."
- Perry Baria
"Perry appreciates honesty and is equally honest in return. She took time to listen closely to our needs and wants and found us a home in an area we had not previously considered, but have quickly fallen in love with. When we were ready, she sold our house for 21% over asking, and we are now happily settled in our "forever house"."
- Lisa and Paul - Hillcrest Village
"Thank you for helping us buy our first home. You did an incredible job, and were always available and took the time to listen to our questions. In the end you were able to find us a house perfectly suited to our needs. We are so happy with our new home. You are a major reason our home buying experience was a very happy one."
- Stephen & Maha
"Perry has followed up with assistance on our home inspections, worked with us on communications with our vendors and stays on task and on time with her service, advice, and caring for us as people. She is a highly recommended professional real estate professional."
- Rick & Lorraine - Cabbagetown
"Perry guided us every step of the way. She started by listening, then proceeded to develop a plan. The end result was a step by step strategy for success. We sold our home for 26% over asking, and were able to leverage that incredible sale price against the purchase of a new home in our dream neighborhood."
- Peter and Sarah – Davisville Village
"It was a pleasure working with Perry Baria during my recent real estate transactions of buying my new home and selling my current one. I could not have made these decisions without her patience, expertise and guidance. Thanks again for everything."
- Carmella - Bloor West Village
"Perry is a fantastic agent. She is knowledgeable and aware of the market while adding a personal touch to make the buying and selling experience enjoyable."
- Ola A. - First Time Buyer
"Until you sell a home, you are never really aware of the value a real estate agent can bring to the table. Having a capable and confident agent makes a huge difference, and Perry transformed our process into a pleasure."
- Peter and Sarah – Davisville Village
The size of a down payment can vary. Depending on the type of mortgage, down payments generally range from 5% to 20% of the purchase price.
To obtain a conventional mortgage, home buyers are required to put down at least 20% of the purchase price or appraised value (whichever is less) as a down payment. If you don't have the necessary time or resources to save a full 20% down payment, you can choose a high-ratio mortgage and buy a home with a down payment of as little as 5%. This option is called a high-ratio mortgage and it requires you to purchase default insurance.
Whether you choose a conventional or a high-ratio mortgage, one thing is almost always certain: the larger your down payment, the more you save in the long run.
Want more information? Visit the Canada Customs and Revenue Agency Publication.
The RSP Home Buyers' Plan (HBP) lets a first-time buyer withdraw up to $25,000 from RSPs for a home purchase. The withdrawn amount must be repaid within 15 years, subject to a minimum annual repayment that is 1/15 of the amount withdrawn. If the full $25,000 is withdrawn, the minimum annual repayment is $1,333. If less than the minimum is repaid in any particular year, the balance is added to the taxpayer's income.
CMHC or Genworth Financial may insure a mortgage for up to 95% of the lending value of the house. Therefore, purchasers do not need a large down payment. Eligible borrowers include anyone who buys a home in Canada intending to occupy it as their principal residence. And the availability of government-backed mortgage insurance is restricted to homes with a value of $1 million or less
Purchasers can use up to 39% of their gross family income for payments of mortgage principal and interest, property taxes and heating. A buyer's total debt load (including consumer loans, etc.) cannot exceed 44% of the gross family income.
People who insure a mortgage loan with CMHC or Genworth pay a premium. The premium is based on the down payment and loan amount. A list of the mortgage insurance premiums can be found here.
Premiums can be paid up front or added to the principal amount of the mortgage.
Up to 95% of the lending value of the house.
To be set by the lending institution.
Max. House Price:
Varies by market.