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Purchasing Your Subsequent Home

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In the midst of a busy life, efficiency becomes paramount. Acquiring your next property differs from your initial purchase. Here's essential information and how we can assist you in saving time and money—swiftly.




Achieve a Swift Process to Secure the Deal (and Your Savings).

Whether you're upgrading, relocating, or expanding your real estate holdings, purchasing another home is an exhilarating endeavor that can progress rapidly.

Numerous factors come into play as you navigate mortgages and decisions this time around. Securing a favorable rate and the appropriate mortgage product is crucial to maximize savings and ensure an optimal strategy moving forward.

Regardless of whether your circumstances are straightforward or necessitate a more tailored solution, it's imperative to manage details promptly, professionally, and efficiently.

Considerations for Your Next Mortgage:

Assuming you currently hold a mortgage on a primary residence, several options are available for your next purchase, depending on your situation and qualifications:

  • Do you intend to retain your existing home as a rental property?
  • Are you planning to sell your current home to finance the next one?
  • Would you prefer to sell your home before purchasing a new one, or vice versa?
  • Do you wish to leverage your current home equity for your next home acquisition?
  • What will be the source of your down payment this time?

Additional scenarios may also be relevant—we can assist you in swiftly navigating them to determine the optimal mortgage strategy for your next home.

If this is your first home purchase, your situation will differ, and there are rebates and programs that may be beneficial.

If you're considering acquiring a second or vacation home (not as your primary residence), further information is available.

Five Key Steps for Your Next Home Purchase:

  1. Consult with Us Early: As soon as you contemplate your next move, reach out to us. We can address important questions (in your preferred language) and inform you about down payment options, potential pre-payment penalties, possible closing costs, and the mechanics of bridge financing.
  2. Obtain Pre-Approval for Your Mortgage Amount: A prompt pre-approval enables you to identify homes within your budget, and you can secure your best rate for up to 120 days. Apply now.
  3. Begin House Hunting: With pre-approval in hand, start searching for your new home.
  4. Finalize Full Mortgage Approval: Present your conditional offer details to your True North Mortgage broker, who will complete your full mortgage approval at the most favorable rate and outline your closing costs. Here's a useful checklist of the documents you'll need to provide for lender approval.
  5. Close the Transaction: Once full mortgage approval is secured, we remain with you through the conclusion, managing the paperwork until the mortgage is finalized (in collaboration with your real estate agent and solicitor).

Expected Turnaround Time for Mortgage Approval:

Our expertise in mortgages allows us to operate swiftly. While each situation is unique, we proactively address any questions or necessary steps. We'll complete the process within a timeframe that suits you, keeping you informed throughout.

Don't just take our word for it—explore our 5-star reviews from our satisfied clients.

How Does Your Down Payment Differ from a First-Time Mortgage?

Depending on your circumstances, you might utilize the equity while remaining in your current home or the proceeds from its sale, potentially providing a larger down payment for your next home purchase.

Alternatively, your next home may still require other down payment sources, such as personal savings or a monetary gift.

Take a Walk Through the Mortgage Process with Us. You'll Be Glad You Did.

It's Easy to Secure Your Optimal Mortgage.

Apply online now or request a callback.

We Offer Superior Mortgages. What Do You Need?

  • Purchase Plus Improvements: Need to renovate? Welcome to a manageable loan with one best rate.
  • Vacation and Second Homes: Considering a second property? Simplify the process with our better rates.
  • Compare & Save Calculator: See how much you can save with our lower rates.
  • Newcomers to Canada: New to Canada? Let's explore your path to homeownership.
  • First-Time Home Buyers: Get the best start and save significantly with our mortgage experts.
  • Proof That Our Rates Are Lower: Our rates are 0.20% lower on average compared to others. Prove it? Okay!