Pre-Approved, Prepared, and Ready to Buy
From helping you understand your budget to strengthening your offer before you start your search, getting
pre-approved gives you a clear advantage when buying a home in the Greater Toronto Area.
With a mortgage pre-approval in place, you’ll know what you can afford, focus on the right properties, and
move forward with confidence when the perfect home becomes available.
ATTENTION: Toronto Homebuyers
Dedicated and Experienced Team
We believe every successful home search starts with the right preparation. Whether you’re buying your first property, moving up, or purchasing again, getting pre-approved helps you understand your budget, shop with confidence, and focus on homes that truly fit your goals.
With a pre-approval in place, you’ll be ready to act quickly when the right property comes along, making your buying experience smoother, clearer, and more efficient.
Building Up Your Credit Score
Improving your credit score takes time and effort, but because it results in getting the best terms on your mortgage, it is worth it. Here's how you can improve your credit score:
#1 Get a copy of your credit report
The first step to rebuilding your credit score is to get a copy of your credit report. You can request a free copy of your credit report from Equifax or TransUnion in Canada. Review your credit report carefully to identify any errors or inaccuracies that may negatively impact your score. If you find any errors, dispute them with the credit bureau.
#2 Pay down your debts
While having debt - if you are paying it off on time - helps you build your credit score, the amount of debt you have limits the amount you can borrow. If you have high credit card balances or other debts, work on paying them down as quickly as possible. If you're using a significant amount of your available credit, this may suggest that you are overextended and may struggle to make payments. The less debt you have, the better your credit utilization ratio will be, which can help improve your credit score.
#3 Start budgeting to pay your bills on time
Start paying your bills on time with no exceptions. Make this the #1 priority each month. Creating a monthly budget helps you take care of your financial health. You can use a budgeting app or a Google or Excel sheet to plan your expenses.
#4 Seek professional help
If you are struggling to rebuild your credit score, consider seeking professional help from a credit counselor or financial advisor. They can help you develop a plan to improve your credit score, manage your debts, and create a budget.
How to Avoid a Money Pit:
Be on the Lookout for these 6 Warning Signs That Could Mean Expensive Repairs...
Roof
Leaks are the most common problem with roofs, and are tough to detect from outside. However, from inside an attic, you can often see water marks where there is a leak.
Plumbing System
Make sure you are confident that both water systems: the one that brings fresh water in and the one that takes sewage out are functioning well before signing on the dotted line.
Electrical Systems
Before you agree to buy you should make sure that you can run all of the appliances you want to and even power tools at the same time without having a power failure.
Heating and Cooling Systems
Be sure to thoroughly inspect the heating and air conditioning systems in any home you are considering purchasing.
Bad Paint and Signs of Rotting
The paint inside and outside the house can reveal a lot about the condition of the underlying material. Check several places on several walls, using your eyes and a screwdriver for poking.
Cracks and other important signs
Cracks in walls, doors not closing properly and uneven floors can all be signs that there is a problem with the foundation. If the foundation is not strong, the entire house could literally collapse, so you should carefully check for these signs.
TESTIMONIALS
What others are saying
"We found the one"
"Danny negotiated strategically, got the seller to address key repairs, and secured a price that felt like a win without risking the deal. We felt supported, informed, and genuinely cared for the entire time"
- Deklon R.
"Communication was immediate"
"I can’t say enough about how professional, energetic, and effective Danny Macedo’s team is. Communication was immediate and consistent, and we always knew what was happening, what came next, and what decisions mattered most."
- Tony Marquez
"Outstanding Realtor Service"
"Thanks again for everything! We really look forward to ha ving you as a resource and being able to refer friends to you for real estate advice."
- Alex Campagnaro
Royal LePage® Supreme Realty, Brokerage
110 Weston Road
Toronto, ON M6N 0A6
Call 416-535-8000
Text 647-931-5151
Copyright 2026. Macedo Real Estate Group, Danny Macedo, Sales Representative, Anthony Rocco Macedo, Sales Representative, Royal LePage Supreme Realty, Brokerage all rights reserved assumes no responsibility for the accuracy of any information shown. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.
Elite Broker Blogs
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What Closing Costs to Expect When You Buy in the GTA
The price on the listing is not the price you pay
Every buyer budgets for the purchase price. Most also account for the deposit, which their solicitor holds in trust until closing. What catches people off guard is the collection of costs that arrive on closing day, on top of the purchase price, with no room to negotiate them down.
This is not a reason to panic. It is a reason to plan. If you know these costs exist before you start looking, you can build them into your budget from the beginning rather than scrambling to find the money in the final week.
Land transfer tax
Ontario charges a provincial land transfer tax on every property purchase. The tax is calculated on a sliding scale that increases with the purchase price. If the property is within the City of Toronto, there is an additional municipal land transfer tax on top of the provincial one. The two combined can add tens of thousands of dollars to your closing costs, depending on the purchase price.
First-time buyers may qualify for rebates on both the provincial and municipal land transfer tax. The eligibility rules and rebate amounts are set by the province and the city respectively, and your solicitor will confirm what applies to your situation. Do not assume you qualify. Ask, and get the answer in writing before you make an offer.
Legal fees and disbursements
Your solicitor handles the title search, the registration of the transfer, the mortgage documents if you are financing, and the trust account that holds your deposit. Their fee covers the legal work. Disbursements are the out of pocket costs they pay on your behalf during the process, things like title insurance, registration fees, and courier charges.
Title insurance is not optional if you have a mortgage. Your lender will require it. It protects the lender against title defects, and most policies also protect you. The cost is a one-time premium paid at closing, typically a few hundred dollars.
Get a quote from your solicitor early. Not after you have made an offer. Before. The quote should include both the fee and the estimated disbursements so you are not surprised on closing day.
Home inspection
A home inspection is not a closing cost in the strict sense because you pay for it before closing, usually during the condition period. But it is money you spend as part of buying, and it is worth budgeting for.
A standard inspection on a detached house in the GTA runs several hundred dollars. Older homes, larger homes, or homes with wells, septic systems, or pools may cost more. The inspection report is yours regardless of whether the deal closes, so if you walk away, the cost stays with you.
Adjustments
On closing day, your solicitor calculates adjustments between you and the seller. These cover prepaid expenses that the seller has already paid past the closing date. Property taxes are the most common. If the seller has paid the full year's taxes and you are closing in July, you reimburse them for the portion covering August through December.
Utility deposits and prepaid services work the same way. If the seller has a rented water heater or furnace, confirm whether that contract transfers to you or whether you need to arrange your own. Rental contracts that transfer mean you take over the payments, and that is a recurring cost, not a one-time one.
Mortgage insurance
If your down payment is less than 20 per cent of the purchase price, your lender is required to insure the mortgage through CMHC, Sagen, or Canada Guaranty. The insurance premium is calculated as a percentage of the mortgage amount and is usually added to the mortgage itself, so you do not pay it out of pocket on closing day. But it does increase your total borrowing, your monthly payment, and the interest you pay over the life of the loan. Ask your mortgage broker to show you the numbers both ways, with and without insurance, so you understand the real difference.
What to do with this list
Add it up before you start looking, not after you find something you want. Your mortgage pre-approval tells you what the lender will lend. It does not include closing costs. If you are approved for a certain amount and your closing costs are going to run into the tens of thousands, that money needs to come on top of your down payment, not instead of it.
Your solicitor, your mortgage broker, and your agent should all be able to help you estimate these numbers for your specific price range and situation. Ask all three. If the estimates are wildly different, that tells you something worth knowing before you go any further.
If you want to walk through the numbers for your situation, call me at 416-560-4983.
