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AskRajiv.ca

September 2, 2026

Should I include a financing condition in my offer?

A first-home plan is ready only when the borrower and the exact property have both been reviewed. A pre-approval, savings balance or online calculator cannot confirm the appraisal, condominium, insurer or final lender conditions. Set a comfortable household budget, verify the down-payment trail and closing costs, keep a financing condition where appropriate, and avoid new debt before closing. Rajiv can then compare suitable A, alternative/B and, only where necessary, carefully planned equity-based options.

September 2, 2026

Should a first-time buyer choose an insured or conventional mortgage?

A first-home plan is ready only when the borrower and the exact property have both been reviewed. A pre-approval, savings balance or online calculator cannot confirm the appraisal, condominium, insurer or final lender conditions. Set a comfortable household budget, verify the down-payment trail and closing costs, keep a financing condition where appropriate, and avoid new debt before closing. Rajiv can then compare suitable A, alternative/B and, only where necessary, carefully planned equity-based options.

September 2, 2026

What is the difference between a purchase deposit and my mortgage down payment?

A first-home plan is ready only when the borrower and the exact property have both been reviewed. A pre-approval, savings balance or online calculator cannot confirm the appraisal, condominium, insurer or final lender conditions. Set a comfortable household budget, verify the down-payment trail and closing costs, keep a financing condition where appropriate, and avoid new debt before closing. Rajiv can then compare suitable A, alternative/B and, only where necessary, carefully planned equity-based options.

September 2, 2026

Should I buy my first home with family or a friend?

A first-home plan is ready only when the borrower and the exact property have both been reviewed. A pre-approval, savings balance or online calculator cannot confirm the appraisal, condominium, insurer or final lender conditions. Set a comfortable household budget, verify the down-payment trail and closing costs, keep a financing condition where appropriate, and avoid new debt before closing. Rajiv can then compare suitable A, alternative/B and, only where necessary, carefully planned equity-based options.

September 2, 2026

My mortgage approval is higher than my comfortable budget. How much home should I buy?

A first-home plan is ready only when the borrower and the exact property have both been reviewed. A pre-approval, savings balance or online calculator cannot confirm the appraisal, condominium, insurer or final lender conditions. Set a comfortable household budget, verify the down-payment trail and closing costs, keep a financing condition where appropriate, and avoid new debt before closing. Rajiv can then compare suitable A, alternative/B and, only where necessary, carefully planned equity-based options.

September 2, 2026

What extra mortgage and closing risks come with a new-build home?

A first-home plan is ready only when the borrower and the exact property have both been reviewed. A pre-approval, savings balance or online calculator cannot confirm the appraisal, condominium, insurer or final lender conditions. Set a comfortable household budget, verify the down-payment trail and closing costs, keep a financing condition where appropriate, and avoid new debt before closing. Rajiv can then compare suitable A, alternative/B and, only where necessary, carefully planned equity-based options.

September 2, 2026

What should a first-time buyer check before financing a condo?

A first-home plan is ready only when the borrower and the exact property have both been reviewed. A pre-approval, savings balance or online calculator cannot confirm the appraisal, condominium, insurer or final lender conditions. Set a comfortable household budget, verify the down-payment trail and closing costs, keep a financing condition where appropriate, and avoid new debt before closing. Rajiv can then compare suitable A, alternative/B and, only where necessary, carefully planned equity-based options.

September 2, 2026

Do I qualify for Ontario’s first-time homebuyer land-transfer-tax refund?

A first-home plan is ready only when the borrower and the exact property have both been reviewed. A pre-approval, savings balance or online calculator cannot confirm the appraisal, condominium, insurer or final lender conditions. Set a comfortable household budget, verify the down-payment trail and closing costs, keep a financing condition where appropriate, and avoid new debt before closing. Rajiv can then compare suitable A, alternative/B and, only where necessary, carefully planned equity-based options.

September 2, 2026

Can I get a mortgage while in or after a consumer proposal?

Mortgage options may exist, but proposal status is only one part of the review. Confirm whether the proposal is active, completed or annulled; the completion documents; debts included; new credit since filing; repayment conduct; income; down payment; property and purpose. Completing a proposal does not automatically restore A-lender eligibility, and borrowing merely to pay it out can be expensive. A broker should compare waiting and rebuilding, an alternative lender, or a carefully structured MIC or private solution with the total cost and exit shown in writing.

September 2, 2026

I have a collection on my credit report. Should I pay it before applying for a mortgage?

Do not pay or ignore a collection without understanding the mortgage effect. Confirm that the account belongs to you, the amount, original creditor, reporting dates, current status and whether both bureaus show it correctly. Paying may satisfy a lender condition, but it may not remove the history or immediately improve the score. An older small collection is different from recent unpaid obligations or several collections. Your broker should review the file, protect closing funds and confirm what the intended lender requires before recommending payment, settlement or a different lending route.