Buying a home can feel overwhelming, especially if you’re not sure what happens when. Understanding the basic steps makes the process more predictable and a lot less stressful.

Here’s how the home-buying journey typically works from start to finish 👇

1️⃣ Build your down payment

Your down payment is the foundation of your purchase power and affects what kind of mortgage you can get.

✔️ minimum 5% down for homes under $500,000

✔️ 5% on first $500K + 10% on the portion from $500K–$999K

✔️ 20% down required once the price is $1 million or more

For any purchase with less than 20% down, mortgage default insurance is required — planning this upfront avoids surprises later.

2️⃣ Get a strategy, budget, and pre-qualification

Before you start shopping, you need a clear plan and a realistic mortgage number.

✔️ review income, debts, credit, and employment history

✔️ confirm your down payment source and documentation

✔️ compare options: fixed vs variable, 25 vs 30-year amortization, and payment frequency

A strong pre-qualification gives you a confident price range and keeps you focused on homes you can truly afford.

3️⃣ Set a realistic budget

Lender numbers don’t always match real-life comfort levels — your own budget matters most.

✔️ total home costs (mortgage, taxes, heat, condo fees) should stay within a safe slice of your income

✔️ factor in insurance, utilities, and day-to-day expenses

✔️ stress-test your budget using a slightly higher payment than today’s rate

Being honest about what you can comfortably carry each month protects you long after you get the keys.

4️⃣ Find the right property with the right realtor

Once you know your numbers, it’s time to work with a realtor who understands your goals.

✔️ search and screen properties that fit your budget and needs

✔️ book showings and compare neighbourhoods and features

✔️ prepare, present, and negotiate offers and counter-offers

Interview at least a couple of realtors and choose the one who clearly puts your interests first and communicates well.

5️⃣ Secure your mortgage approval

When you’ve found the home you want, your broker matches your file to the best-fit lender and product.

✔️ lender reviews your full application and the specific property

✔️ issues a mortgage “commitment” outlining rate, term, and conditions

✔️ asks for documents to verify income, down payment, and debts

Approval depends on BOTH you as a borrower and the property meeting the lender’s guidelines.

6️⃣ Work with your real estate lawyer

Your real estate lawyer makes sure the transfer of the home and the mortgage registration are done properly.

✔️ reviews the agreement and lender instructions

✔️ checks title, taxes, and any registered charges on the property

✔️ prepares documents for you to sign and explains what you’re agreeing to

This step protects you legally and ensures everything is registered correctly before money changes hands.

7️⃣ Closing, keys, and move-in day

Once everything is signed and the funds move, the home officially becomes yours.

✔️ lender sends mortgage funds to your lawyer

✔️ your lawyer sends money to the seller’s lawyer and registers you on title

✔️ keys are released, usually later that day or the next business day

At that point, you’re ready to move in, set up utilities, and start settling into your new home.

💬 Final Thought

Buying a home is much easier when you understand the steps, timelines, and who does what. A clear plan, the right team, and a solid mortgage strategy make an overwhelming process manageable. Message The Frontline Mortgage Group and find out how.