A message from the Canadian Home Builders' Association

When you buy a new home from a professional builder, you get an unbeatable combination of quality, affordability, service and peace of mind. Professional builders have the right skills, experience and integrity. Today’s new home builders are committed to excellence and customer satisfaction. Choosing a new home is your best assurance of quality and long term value.

New homes are better built.

It’s as simple as that. When it comes to solid construction and energy efficiency, Canada’s new home builders are world leaders. You reap the benefits - a home that is extremely comfortable, healthy and easy to live in for you and your family.

New homes are better designed.

Times have changed and so have our homes. Well-planned layouts are combined with modern design flair to reflect how we live today. New homes are bright, spacious and practical, while creative design details add character and charm.

Better choice and more flexibility in design and finishes.

Today, customizing is a norm. Choose a house plan, personalize it and add the finishing touches to suit you and your family. Move right into the home you really want .

New homes offer better protection.

Imagine the peace of mind you’ll have when you buy new. Professional builders stand behind their work with after-sales service and a guaranteed third-party warranty. Ask for details so you know exactly what’s covered and what to expect.

New homes are more affordable than ever.

With low interest rates, cost-efficient construction and increased competition among builders, your home-buying dollars will stretch further than you may think possible. If you are a first-time home buyer, you can buy with as little as 5% down and use your RRSP savings towards to your purchase.

New homes make financial sense.

When you buy new, you know what you are getting and what your housing costs will be. No surprises and unexpected expenses. You can plan for the future with confidence, and that’s important.

Flexible financing options.

Financial institutions offer a wide range of innovative mortgage options designed to fit the needs and wants of today’s home buyers. Talk to your lender before you begin your house search. With a pre-approved mortgage, you know exactly how much you can spend.

Owning a home will be the single biggest and smartest investment that a person will make. The right consultation will allow you to be an educated real estate consumer in Ontario.

Questions to ask yourself prior to looking for a mortgage or refinancing an existing mortgage:

• What will my down payment be?
• What amount of money will I need to borrow?
• What interest rate can I afford, and obtain?
• What mortgage term should I have?
• What are the privileges and terms for repayment?
• Will my mortgage be conventional (75% advance or less) or will it be a high ratio? (more than 75% advance)

• If my mortgage is high ratio, should I obtain mortgage insurance through CMHC or should I obtain secondary funding, which can be up to 50% cheaper?
• Can I qualify for a no fee first mortgage?
• Should my mortgage be an asset to me if I decide to resell my property?
• Where should I obtain the mortgage information that I require?

Every lender has different qualifying procedures. For more information on mortgage programs and rates, we have provided you with links to the major banking institutions within Ontario. We also have on-site bank representatives who can talk to you about competitive, discounted rates that Royalpark has negotiated on behalf of their valued customers.