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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.

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or call 1-888-794-1464

360Lending is the (award-winning) no B.S. mortgage company

See why thousands of Canadians rely on our mortgage advice and services

Our No B.S. Mortgage Advice

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.

How 360Lending can help if you're buying a property

  • 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:

Input your own numbers and see how much you can save!

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If the purchase price is: $500,000 or less – Your minimum down payment is 5% / Between $500,000 and $999,999 – Your minimum down payment is 5% of the first $500,000 PLUS 10% of the remaining portion of the home price / $1,000,000 or more – Your minimum down payment is 20%

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CMHC insurance

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Mortgage insurance is required if your down payment is less than 20% of a home's purchase price.

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Properties in Toronto are subjected to the municipal land transfer tax.
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First-time home buyers in Ontario may be eligible to receive a provincial land transfer tax refund of up to $4,000, and if the property is located in Toronto, they might receive an additional municipal land transfer tax refund of up to $4,475.

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+Municipal$0

-Rebate$0

Land transfer tax

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Total mortgage

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Mortgage payment

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more Mortgage payment info

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* 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)