MORTGAGE SOLUTIONS

What should I budget?

Before making a home-buying decision, you should calculate both the one-time and ongoing costs associated with buying and operating the home.

As a guide for preparing a budget, consider the following:

Costs associated with the purchase of a home include:

• appraisal fees
• cost to obtain a survey/title insurance
• land transfer taxes
• CMHC mortgage insurance (if applicable)
• moving expenses
• legal fees

(You may wish to consult an experienced lawyer who will provide estimates of some of these costs at the outset of your planning. A lawyer should be consulted before you sign any documents or make any commitments.)

On-going housing costs usually include:

• monthly mortgage payments
• property taxes
• mortgage life and disability insurance (optional)
• heating costs
• costs of secondary financing, such as a second mortgage (if applicable)
• condominium fees (if applicable)
• operating and maintenance costs

For more information on ATB Financial's mortgage solutions, visit any branch of ATB Financial, or call us today at 1-877-424-4045 (toll free). For the branch hours and address of the ATB Financial location nearest you, please use the Branch Locator.

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