Testimonials...See what Clients
are Saying...
Referral Reward Program...Carpenter Real Estate Group says thank you...
Know what your home is worth? Do our Market Evaluation
Your home, your dream...Try our Mortgage Calculator
 |
Costs Associated with Home Purchase
|
Home Inspection $225. to $450. |
Mortgage Appraisal Fee $150. to $300. |
Legal Fee $700. to $1100. |
Mortgage Processing Fee $85. - $125. |
|
CMHC Loan Insurance Fee |
|
Property Transfer Tax –1% on first $200,000, 2% on Balance |
|
GST new homes only |
|
Misc. Adjustments |
|
Moving Expenses |
Total: |
Typically there are no mortgage processing fees, however if you are dealing with CMHC there is a fee.
Property Transfer Tax may be waved for qualified first time purchasers who purchase properties under $375,000.
GST is 4.48% for residential purchases under $350,000 or 6% for investment properties or residential purchases over $450,000. If the price is between $350,000. and $450,000 the formula is:
$450,000 – purchase price / $100,000 x 4.48%
Miscellaneous Expenses are adjustments made to allow for property taxes, condo fees etc.
