If you put down less than 25% for a down payment:
Mortgage Application fee - $165.00
CMHC Mortgage Insurance - 95% financing 3.15% 80% financing 1.25%
90% financing 2.40% 75% financing .75%
85% financing 1.80% 65% financing .60%
(Note that Mortgage insurance is normally added to the mortgage amount on closing.)
Bridge financing: This will be required if there is a gap between funds required to close your purchase and the date that funds are received. This would be a daily fee at the current interest rate for bridge financing on the amount outstanding at closing.
Title Insurance: Optional. If the seller provides an RPR with compliance, it is not necessary.
Cost roughly $220
Title search: $20.00
Tax search: $5.50
Registration of transfer of land: $50.00 plus $1 per $5000 of purchase price
Mortgage Brokerage fees: These may apply if you are borrowing private funds to finance your home purchase
Appraisal: $200 plus GST
Home Inspection: $450 plus GST
Condominium document review: $500 plus GST
Legal fees: $700 plus disbursements plus GST
Utility connections: Atco no charge unless disconnected. If disconnected $45.
Enmax $10 each for water an electric
Telus $35 for an existing home. Call for new home charges