Resources
Here are some of the most common questions about mortgages, but scroll down to explore the resource pages! You’ll find even more details, links to the original policies and various mortgage calculators.
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This requires a bigger conversation, but there are ways to do a rough estimate over the phone. We find out exactly how much you can afford through the pre-approval process.
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Short answer: No.
Generally, you want your down payment to be as little as possible, but if your situation is an exception, I’ll let you know. -
There is no one-size-fits-all when it comes to mortgage products and rates. Historically, variable rate will save you money, but it also depends on your exact product and the lender you use.
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Short answer: Yes!
More income means more buying power. It might not be a good idea if your spouse doesn’t have income or is bringing a lot of debt with them, but we can talk this through. Also, are you buying a investment property or a home you’re going to reside in?
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A monthly schedule is great for managing cash flow in and out of your accounts. Biweekly is better at paying down interest, while biweekly accelerated is the most aggressive for paying down interest. Weekly is roughly the same as biweekly accelerated, but I’m not a fan of seeing money come out of the account every week. Ultimately, it’s a conversation about what makes sense for you.
Learn about…
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Ten Steps of a Mortgage
Learn what to expect when you work with Driver Mortgages for your next home purchase.
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Down Payments
From minimum required amounts to saving account withdrawals, this is the essential information.
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First-Time Home Buyers' Incentive
The FTHBI is a complicated new program that may (or may not) work in your favor.
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Property Transfer Tax
This covers how to calculate PTT, exemptions to the PTT and other useful tax exemptions.
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Mortgage Insurance
Understand how to calculate how much your mortgage insurance premium will be.
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Additional Costs
Be prepared for all the costs that stack up, aside from the cost of the home and the mortgage.
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Do's and Don'ts
These are the key Do’s and Don’ts to keep in mind through the home buying process.
Nicole P.
“From beginning to end, she takes the time to educate you on what best suits your overall needs and goals. She is extremely personable and you can truly feel she genuinely cares about her clients. Everyone needs Herjit in their life. #herjitforlife”