Buying a home
Buying again? Let's line it up.
Is this you?
Who this is for
- You own now and you're moving up, down or across the valley
- You're relocating to the West Kootenays for work
- You found a place and need to move quickly
How it goes
Step by step
- 01
Where you're at
What you own, what you owe, and what you want next. Fifteen minutes.
- 02
The plan
Port, break or start fresh. I'll show you what each option costs, including any penalty on your current mortgage.
- 03
Pre-approval
Your budget, in writing, before you write an offer.
- 04
Close
I work with your realtor and lawyer so the dates line up.
Numbers to know
The rules, in plain English
Minimum down payment
5%
5% on the first $500,000, 10% on the part above that, and 20% on homes of $1,500,000 or more.
Source: CMHC, Home Start (minimum equity 5% of the first $500,000 and 10% of the rest, price below $1.5M, 30-year premium table, first-time buyer definition). Checked Nov 3, 2026.
Under 20% down
2.8% to 4%
Mortgage default insurance is required. CMHC's premium is a share of the mortgage, added to the loan. There's no sales tax on it in BC. The home must cost less than $1,500,000.
Source: CMHC, Premium information for homeowner and small rental loans. Checked Nov 3, 2026.
The stress test
5.25% or rate + 2%
Lenders check you could afford the payment at whichever is higher. It's a safety check, not the rate you'll pay.
Source: OSFI, Minimum qualifying rate for uninsured mortgages (modified 2026-01-29). Checked Nov 3, 2026.
BC property transfer tax
1% / 2% / 3%
1% on the first $200,000, 2% up to $2 million and 3% above that. It's due when the sale registers, so it comes out of your cash, not the mortgage.
Source: gov.bc.ca, Property transfer tax rates (updated 2025-12-03). Checked Nov 3, 2026.
What to have ready
Documents most lenders ask for
- Government photo ID
- Proof of income (pay stubs and employer letter, or two years of tax returns if self-employed)
- Your current mortgage statement
- Listing or sale agreement for your current home, if you're selling
Don't email these.
When it's time, you'll upload them through the brokerage's secure application. Every lender is a bit different, so I'll send you an exact list.
Calculators
Try the numbers
Questions
Common questions
Can I take my current mortgage with me?
Often, yes. It's called porting, and whether it makes sense depends on your lender's rules and your rate. I'll compare it with starting fresh.
What if I buy before I sell?
Some lenders offer bridge financing to cover the gap between the two closings. It depends on having a firm sale. We'll talk through it early.
Ryan Grafton, Mortgage Broker | Mortgage Architects
Got a question? Ask it.
Fifteen minutes on the phone usually clears it up. No pressure.