LAWYER’S FEES
 Approximately $800 – $1,200
TITLE INSURANCE
 Homes $400,000 or less = Approx. $325
Homes $780,000 = Approx. $625.00
STATUS CERTIFICATE
 If purchasing a condominium – $100
LAND TRANSFER TAX
 0.5 % to 2% – based on purchase price
CMHC FEES
 If mortgage is high ratio (less than 25% of purchase price down payment) $75-$235 depending on whether appraisal is available from lender (appraisal cost – approx. $175) Negotiate with lender – most will waive this fee
CMHC INSURANCE
 .5% to 2.75%, depending on ratio of value / loan – this can be added to mortgage amount and financed over term of mortgage
P.S.T ON CMHC INSURANCE PREMIUM
 8% – must be paid on closing
TAX ADVANCE REQUIRED BY LENDERS ON HIGH RATIO MORTGAGES
 May be up to one half year’s tax amount
UP-TO-DATE SURVEY
 Lender may request – approximately $800
PROPERTY INSURANCE
 Your house must be insured in order to get a mortgage
UTILITY HOOK-UP
 Phone, cable, etc. may cost around $200.00
MORTGAGE ADJUSTMENT PERIOD
 This is the portion of the month following closing, to the end of that month. The bank is entitled to mortgage interest on closing to that point, however, your actual mortgage payments won’t start until one calendar month AFTER closing.
MOVING COSTS
 Varies according to distance and volume.