Below is a list of extra costs involved in buying a home. Not all of these costs will apply in all circumstances. This is provided as a guideline as amounts vary from transaction to transaction.
Legal/Related Fees:
Lawyer Fees $600-$800
Legal Disbursements $600 - $800
Prepaid Taxes or Utility Bills To be determined
Land Transfer Tax See Chart
Survey Fee $1,000 - $1,500
Title Insurance $270
Financial Fees:
Appraisal Fee $150 - $250
Bank Application Fee $150 - $250
CMHC Application Fee $75 to $235
CMHC Insurance (rolled into mortgage) See Chart
Mortgage Brokers Fee (if applicable) To be determined
Inspection Costs:
Home Inspection Fee $350
Status Certificate (Condo only) $100
Water quantity and quality certificate $50 - $100
Septic Inspection $150 - $300
Miscellaneous Expenses:
Moving Costs $500 - $5000
Service Charges for utility hook-up To be determined
CMHC Insurance Premium Calculations
Property Value Calculation
Loan Size Premium
$55,000 to $250,000 $10.00 per $1,000 less $275(% of Purchase) (% of Loan Amount)
75.01% to 80% 1.00%
80.01% to 85% 1.75%
85.01% to 90% 2.00%
90.01% to 95% 2.75%
90.01% to 95% - Traditional 2.75%
90.01% to 95% - Flex Down 2.90%
Under $55,000 $5.00 per $1,000
$250,000 to $400,000 $15.00 per $1,000 less $1525
Over $400,000 $20.00 per $1,000 less $3,525