Purchase Strategy
Home Purchase
Compare affordability, lenders and closing timelines before you make your next move.
Who it helps
Buyers planning a next home, move or second property.
Plan the financing around your move
Moving closer to family, making room for a growing household or downsizing all create different questions. Tell us what is changing, your preferred closing dates and whether you will keep or sell your current home.
Buying and selling on different dates
Before making commitments, ask how a deposit, sale proceeds and any temporary financing would line up. If you already have a mortgage, request a comparison of keeping, transferring or replacing it, including the lender’s conditions and any costs.
A second home or a rental?
Explain how the property will be used: your own home, a family or seasonal home, or a rental. Ask the team to confirm the financing options for that use. For a rental purchase, start with our investment property guidance.
Bring a picture of the whole move
- Your intended purchase price, down payment source and preferred dates.
- Your current mortgage statement and any sale or purchase agreement already signed.
- Details of property use, planned renovations and questions about carrying two homes.
If the home needs work, ask about renovation financing before assuming improvement costs can be included. Tell us about the move you are planning; send documents only through a secure channel arranged with the team.
How we help
A plan built around your goals
Coordinate the dates
Put the purchase, sale and availability of funds on one timeline.
Compare the mortgage choices
Ask about payment flexibility, portability, penalties and lender conditions as well as the rate.
Clarify the intended use
Discuss whether the property will be owner-occupied, used by family or rented out.
Process
Your next steps
1
Describe the move
Share the property type, timing and whether another home is being sold or retained.
2
Compare the scenarios
Review affordability, the current mortgage and the funds needed at each stage.
3
Review the closing requirements
Confirm the lender’s conditions, document requests and responsibilities with your professional team.
Relevant team members
Talk with the team
Mortgage Agent Level 2
Team Lead
Rasha Ingratta
Rasha supports mortgage planning and financing decisions as part of the ShopMortgages.ca team.
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Mortgage Agent Level 2
Mortgage Underwriter
Vanessa Field
Vanessa supports buyers and homeowners with mortgage preparation, planning and clear next steps.
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What else to consider
- Next-home planning
- Second-home questions
- Purchase timing
FAQ
Common questions
Can I buy before I sell?
Ask for a review of the dates, available funds and ability to carry both properties. Any temporary financing has its own conditions. Do not assume sale proceeds will be available for the purchase closing.
Can I take my mortgage to the next home?
Ask your lender whether the mortgage is portable and what deadlines, property requirements and approval conditions apply. Compare that option with replacement financing before deciding.
Does a second home use the same financing as a rental?
The intended use is an important detail to disclose. Tell the team who will occupy the home and whether there will be rental income so the relevant lender requirements can be checked.
Start the conversation
Tell us about your mortgage goals
Tell us your question and how to reach you. Please leave account numbers and sensitive documents out of this form.