[Purchase Inquiry] What is the mortgage approval process like?
The required documents for a mortgage can be prepared with the help of a REOCA-certified mortgage broker.Our brokers will guide you through the process and help you gather the documents needed for the mortgage program that best fits your situation.
[Purchase Inquiry] How much down payment is typically required?
The required down payment depends on your income and the price of the home.
[Purchase Inquiry] Is it possible to get a mortgage loan from a Canadian bank?
If you are applying for a mortgage from a Canadian bank as a business owner, you will typically need to provide the last two years of tax returns. If you are currently employed in Canada, you may be asked to submit documents such as proof of income, fixed expenses, pay stubs, employment contract, Notice of […]
[Purchase Inquiry] Can foreign buyers purchase real estate in Ontario, especially in Toronto?
As of now, Canada’s Foreign Buyer Ban has been extended until January 1, 2027.Originally set to expire in 2025, this regulation prohibits non-Canadians from purchasing residential property in Canada — including in Ontario and Toronto — until the new deadline. There are some exceptions to this rule.For more details, we recommend speaking with a REOCA-certified […]
[Purchase Inquiry] I’m planning to buy a property — does REOCA charge any fees for its services?
The real estate agent service provided through REOCA is free for buyers.In Ontario, the commission for real estate agents is typically paid by the seller when a property is purchased. Mortgage brokers may charge a fee depending on the type of mortgage you receive.
