Stop Settling for “Here’s Your Rate.” You Deserve a Real Mortgage Plan
Josh Perez • November 26, 2025
Most people who walk into a bank—or even talk to some brokers—get the same three things:
a pre-approval amount, a max purchase price, and an interest rate.
That’s… not a plan.
“A number and a rate don’t prepare you to buy a home. A strategy does.” — Josh Perez
When my team and I build a pre-approval, we start with you—your life, your goals, your comfort level—not just the lender’s worksheet.
What We Dig Into (Beyond the Rate)
- Where you want to live: neighborhoods, schools, commute, community.
- Home details that matter: size, backyard, basement, suite potential, finish quality.
- Monthly comfort zone: not just the mortgage—total housing (strata, insurance, utilities, taxes).
- Down payment sources: savings, gifts, RRSP HBP, sale proceeds—what’s real and when.
- Closing costs: land transfer tax, legal, inspections, moving—budgeted, not guessed.
- Flexibility needs: potential move, rental plans, penalty exposure, fixed vs variable fit.
When we map these pieces, your true max becomes clear: not what a lender says you can spend, but what you’re comfortable spending.
Show Me, Don’t Tell Me
Telling you “you’re approved for $X at Y%” isn’t enough. We illustrate options:
- Side-by-side payment comparisons (rates, terms, amortizations).
- Best/worst-case scenarios (payment changes, penalties, renewal paths).
- Cash-flow impact with closing costs and move-in expenses.
- How small tweaks (debt cleanup, down payment timing) increase buying power.
Eyes wide open. No surprises. A plan you can defend.
“You don’t need more quotes—you need a strategy that fits your life.” — Josh Perez
Ready to Build Your Plan?
If you want more than a rate sheet—and you want to feel prepared, not pressured—let’s talk.
👉 Book a quick strategy call with me and we’ll map your numbers, your options, and a clear path to your next home.
Schedule your call
When you’re buying a home, two terms often cause confusion: deposit and down payment . While they’re related, they serve very different purposes in the homebuying process. Here’s what you need to know. What Is a Deposit? A deposit is the money you provide when you make an offer on a property. Think of it as a show of good faith that proves you’re serious about purchasing. How it works : Typically, you provide a certified cheque or bank draft that your real estate brokerage holds in trust. If your offer is accepted, the deposit remains in trust until the deal moves forward. If negotiations fall through, the deposit is refunded. Connection to your down payment : Once the sale is finalized, your deposit becomes part of your total down payment. Why it matters : The amount is negotiable, but a larger deposit can make your offer more attractive in a competitive market. Keep in mind, however, that if you back out after conditions are removed, you risk losing your deposit. What Is a Down Payment? Your down payment is the amount you contribute toward the purchase price of your home when securing a mortgage. Minimum requirement : In Canada, the minimum down payment is 5% of the home’s purchase price. Anything less than 20% requires mortgage default insurance. Sources : Down payments can come from your savings, the sale of another property, RRSP withdrawals (through the Home Buyers’ Plan), a gift from family, or even borrowed funds. Example: How They Work Together Imagine you’re buying a $400,000 home with a 10% down payment ($40,000). When you make your offer, you provide a $10,000 deposit . Once conditions are met, that deposit is transferred to your lawyer’s trust account. At closing, you add the remaining $30,000 to complete your full down payment. The lender provides the rest—$360,000—through your mortgage. The Bottom Line Your deposit shows commitment and secures your offer, while your down payment is what makes the mortgage possible. Together, they work hand in hand to get you into your new home. 📞 If you’d like clarity on deposits, down payments, or any other part of the mortgage process, let’s connect. I’d be happy to walk you through it step by step.
Discover why a 5% down payment isn’t always irresponsible. Learn when a low down payment is a smart financial move for Ontario homebuyers and when it’s a risk.
