u/Psychological-Long94

What purchase price is being used to qualify? I have a new build where the builder has confirmed all rebates will be applied on the SOA at closing.

Are we being approved on original price or rebated price?

If so, how does down payment % work, is it still 20% based off original purchase price as the builder will credit HST before closing and that will lower the price. Or is 20% based off price without HST?

How safe is this activity? Is the river deep or can you stand in the water if you were to fall off?

Are cosmetic upgrades included in the HST rebate calculation? The cost for my upgrades is due at the decor appointment.

The builder is already crediting the HST on the purchase price on the statement of adjustments, but would cosmetic upgrades be included? I understand the maximum rebate is 130k, and we have some room left

Chexy now asking for lease agreement when setting up a new rent payment?

Is this a new thing for everyone? In the past I have done several payments without being asked for one

FTHB here

Location: Milton, Ontario, Freehold townhome

Purchase Price: 897,000

Down Payment: 300,000 - 325,000

My Income: $123,000

Wife's Income: $50,000 (wife works a full time yearly contract position September to June, which she has been in for 1.5 years now)

No debts between both of us

• Will the wife's income qualify? Its not a permanent full-time position, but rather school board full-time contract position that runs the school year September to June, which she has had for 1.5 years. Pay cheques are taxed like normal, and there is no self-employment aspect here
• If it does not, can I qualify for a $572- $597K mortgage on my income? With both of our incomes, I know we can comfortably afford the mortgage but need to be prepared in case her income does not qualify. The max GDS TDS ratio is 39/44, but my case having more than the 20 percent down payment with credit scores above 800, and no debt. We will also be taking a 30 year mortgage
• The builder is providing all HST rebates to be collected by us, including the $24,000 HST rebate which has been law for a while. I understand the extended housing rebate is still pending legislation. For the 24,000 rebate, Can the purchase price be reduced by that amount as im assuming my lawyer will adjust this on closing - meaning can I get approval based on a purchase price of 897,000 - 24,000 = $873,000?

I will be reaching out to a broker, but just wanted some initial feedback. Thanks!

I signed an agreement for a precon closing in Jan 2027. As part of the deposit structure I will have to put 100k down by August 2026. Do I need to show 90 day history of these funds if I start shopping around for a mortgage in Sept/Oct of this year?

I have already provided 25K, and assume this should be "seasoned" by the time Sept/Oct comes, then I have another 25k in each of June, July, and August.

Question is how do the lenders view deposits paid early on as part of the downpayment?

Why has the government created a rebate to be collected after closing?

How does this help any first-time home buyers as we would be getting approved at higher mortgages?

I recently signed an agreement with a builder, and they have removed all HST language from my APS, mentioning that we will collect the entire 13%, including the $24,000 rebate that was implemented from before. But this would mean higher monthly mortgage payments from the get go

Since I am responsible for collecting it, Is it possible for this rebate to be applied at the statement of adjustments by my lawyer? My closing is Jan 2027.