Sutton Group Envelope Real Estate Brokerage Inc.
Ty Lacroix 181 Commissioners Road W London, ON N6J 1X9
Phone: 519-435-1600

First Time Home Buyers London Ontario



    Why should I choose you to help me buy a house or an apartment condo or a townhouse, rather than doing it on my own or some other real estate company?

  1.   We take time before you even go out and start looking at homes (boring I know) but by understanding your needs, your fears and goals, we can better help you by setting up a personalized plan especially for you.
  2.   We then will walk you through the process of buying from start to finish so that you are aware of what is going to happen and for you to better informed,
  3.    You get to meet us and see if we are a fit for you. You can judge our commitment to you, actually, if you like us or not!
  4.    We then help you choose a home inspector; we make sure your mortgage lender is in the loop, we get a lawyer lined up to fit your persona and anybody else who we and you think can help you.
  5.   Then, and only then, do we match properties for sale that fit your criteria.
  6.    Then, the fun part, we go out and see homes and educate you about what you can expect in your price range and about some regions of the city that are better than other parts.

        shopping for a home in London Ontario

  In most cases, viewings of properties are arranged quickly; we have access to all features listed on the MLS system. You'll love our comfortable, no hassle search, try it out now!

   How much do I need for a down payment?

 A down payment is the amount of money you pay upon closing and is required to obtain a mortgage.  

• For homes with a purchase price less than or equal to $500,000 the minimum down payment is 5%
• For homes with a purchase price higher than $500,000 and less than $1 million, the minimum down payment is 5% of the first $500,000 plus 10% of the remaining balance
• For homes with a purchase price of $1 million or more, the minimum down payment is 20%

  Don't have a down payment yet?

  If you don’t have a down payment saved for your first home, you have other options.  One is borrowing up to $25,000 of your RRSP savings (per person; $50,000 per couple) under The Government of Canada Home Buyer’s Plan program, (HBP).

 There is also lease-to-own and 100% financing that may enable you to achieve homeownership sooner. A word of Caution: 100% funding and lease-to-own can be quite costly in the long run. We have excellent relationships with many mortgage specialists that can outline your options.

  Why should I get pre-approved?

 You’ll find house-hunting is much easier when you have mortgage pre-approval. You’ll save time, you will only see homes that fit your budget, you can lock in the interest rate which is typically guaranteed for 120 days, and your pre-approved status will show home sellers and their Realtors® that you are a serious buyer, which can help during negotiations.

 The Envelope Group works with exceptional mortgage specialists who will guide you on your home buying journey and offer competitive rates that save you money. There’s no cost to you and you’re not obligated to accept the mortgage when it comes time to buy.

 Do I really need a Home Inspection?

  Home Inspection

 A home inspection is an investment, not an expense when purchasing a home, and we highly recommend it. The purpose of a home inspection is to reveal all deficiencies in the house. Even in newer homes, minor items are to be expected.

 However, at times, there may be more substantial deficiencies that may need to be addressed. Conducting a Home Inspection will help alleviate any unwanted surprises. A home inspection is a cost incurred by you, the buyer, and the day the service is performed. Home inspection costs range from $300-$700 depending on the size of the home and the type of service provided. Typically a home inspection is anywhere from 2-3 hours depending on the size of the house.

 There are also other forms of inspections that we may advise such as Environmental Testing, Wood Burning Fireplace Inspections, Septic Systems, HVAC (heating, ventilation, and air conditioning ) or an ESA Certificate (Electrical Safety Authority)

 What expenses are there when buying my first home, and when?

 There are many costs to consider when buying, we have a detailed breakdown of costs to consider, and we will walk you through a full list of expenses to expect when it comes time to buy. Make sure you identify and uncover all costs-large and small, way ahead of time. Again, we will discuss this with you, and you should review all fees and costs with your lender, your lawyer and any other professional you may use.

 What is the fee to work with you?

  None! As a valued buying client, you work with us at no cost to you.  The fee for our service is entirely covered by the home seller.

 Do I have to pay HST on the purchase of a resale home?

 No. HST does not apply on the purchase of a resale home, so you only have to budget for this expense if you are buying a new home. If you do purchase new, keep in mind that you can claim a rebate for some of the provincial portion of the tax incurred on homes priced up to $500,000.

 What is the First-Time Home Buyers’ Tax Credit (HBTC)?

  The First-Time Home Buyers’ Tax Credit (HBTC) is a non-refundable tax credit intended to help first time buyers cover costs associated with purchasing a home and must be claimed in the year the property was acquired. You can request an amount of $5,000 for the purchase of a qualifying home if both of the following apply:
• you or your spouse or common-law partner acquired a qualifying home; and
• you did not live in another house owned by you or your spouse or common-law partner in the year of acquisition or any of the four preceding years (first-time home buyer).

  Do I have to pay Land Transfer Tax?

 When you buy land or an interest in property in Ontario, you pay a land transfer tax. First-time homebuyers of an eligible home may qualify for a refund of all or part of the fee.

 To claim a refund, you must be at least 18 years of age, you cannot have owned a home or an interest in a home anywhere in the world, and your spouse cannot have owned a home or investment in a house, anywhere in the world while he or she was your spouse. Previous ownership in a home means you do not qualify for the land transfer tax first-time homebuyer’s refund. The method of acquiring the house (e.g., purchase, gift or through inheritance) is not relevant.

 You cannot re‑qualify as a first‑time homebuyer. This rule may be different from other federal programs for first‑time homebuyers (e.g., the Canada Revenue Agency Home Buyers' Plan).

Land Transfer Tax Refunds for First-Time Homebuyers

Next Steps

 As you have read, there are quite a few steps in the home buying process; having us to guide you is the next step.  We invite you to meet with one of our buyer specialists to further discuss how we can help you find the perfect home.

 These folks did and guess what? They are so happy they did, they wrote to us about it!


First Time Home Buyers London Ontario , Stop Paying Rent Now

       Do NOT Sign Another Rent Cheque Until You Consider This 

For Rent or For Sale, Your Choice

   You could stop flushing away rent money every month, stop making your landlord money, and buy a home or a condo apartment or a townhouse of your own and in most cases, we can help.
     Imagine; a home of your own! A fenced yard for the kids. A garage for your car. Enough room for your stuff. Your own place! Privacy. Comfort.
           Why Now?
  Interest rates are low. The time just couldn’t be better to get financing for a house or a condo in London Ontario and area.
          What About Credit Challenges?
  Even if you do NOT have perfect credit, there may be loans available for you. Even if you are self-employed, there are loans available to you. Whatever your current situation, there’s probably a home loan just right for you, and the mortgage specialists we work with may be able to help. 
             Stop wasting money, don't rent, buy a home in London Ontario
    Won’t I Need A Large Down Payment?
   You do not need a large chunk of money for a down payment either. Right now, you will need at least a 5% downpayment.
  Let me tell you about Charlie and Sue. They had rented for 24 years. They raised 4 children in rental apartments and homes. Just recently, I helped them find a nice bungalow in London and buy it with $11,350.00 down. Charlie and Sue got out of their apartment with the noisy neighbours and no place to park their car, got into a really neat place in a nice neighbourhood with 5% down.
  Now Charlie has a backyard and learning about BBQ's and able to sit out back and relax a bit. And instead of paying rent each month and losing that money forever, that same payment is now an investment, creating security for both of them in the future. Oh, and by the way, their mortgage payments and taxes are less than they were paying in rent!
  Can we help you do that as well? In most cases, yes!
  Every Month You Wait, You Flush Your Hard Earned Money Right Down The Drain.
                    Flushing Money Away by renting
  Renting is wasting money. You make your landlord rich, but you do nothing for yourself. By putting those exact same dollars into a “house payment” instead of “rent”, you create “equity”….. the value that you own, that later can send your kids to university, finance the start-up of your own business or pay for your retirement.
   You could even be your own landlord and build up future financial security. We’ll even show you easy strategies to speed up the pay-off of your home without making extra payments. 
 There’s no reason to wait. We can help you buy in London Ontario & area RIGHT NOW.
  By the way, we helped Jack & Carolyn buy their first home 6 months ago. Jack and Carolyn had a bankruptcy four years ago and were worried they could not buy a home for a long time. I helped them purchase a nice 2 bedroom condo for $144,900 with only $7,500 down. Jack’s whole attitude has changed.
  He is no longer a renter who cannot buy because he has a bankruptcy. He is a homeowner and you can tell he’s proud of it. He’s already talking about renting out his condo and moving up to a bigger home in a few years.
  I remember when Verna called us last year. She had lived in the same house for 40 years and after her husband passed away, she was urged by her family to move to an apartment “to save money”.
  After 16 months in an apartment, the cat and she were going stir crazy. She liked to tinker about and she didn’t like the noise and all the traffic. Our associates helped her find a great one bedroom apartment condo with a balcony, she has her own laundry and oodles of storage and get this, her payments are less than what she was paying in rent!
  Switching from renting to home ownership can help you go from being in debt or “cash poor” to becoming financially secure, too. You can use home ownership as the “foundation” of a complete change in your finances!
 Being A Homeowner Makes You Feel Good
                        Happy buyers London Ontario
 In addition to the smart financial reason for buying your own home instead of renting, you will feel better about yourself and your life. You’ll provide a safer place for yourself, your spouse, your family. You can decorate your home just as you please. You’ll enjoy inviting people over to your home.
 Will I Have To Settle For Something I Don’t Love?
 Houses and condos in London Ontario are always for sale, if not this week or this month, there will be next week or next month.   We’ll talk about the kind of home you want, the kind of neighbourhood you want to live in, your finances, and then we will do all the hard work of finding the perfect home for you. A home you can afford. A home you’ll be proud of. A home you can move into now.
   Of course, everything you tell us is completely private and confidential. Our profession mandates this high level of integrity. We work for you. As professional full-time Realtors, we are a counsellor and advisor only,  we are not a mortgage broker nor a money lender.
 We know the best mortgage specialists in London that can help you get a home to move into. We do not get a fee for referring you to them nor do we charge any fees if you work with us, the home seller pays our fee.
 You see, we only get paid by the sellers real estate brokerage if you successfully buy a home through us, you do not pay us a nickel.
 Why Not Explore This Idea? What Do You Have To Lose?
   Why not contact us now and see if we can help"

Easy To Use Mortgage Calculator. Rent or Buy

Let us help you find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.


Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
  Receive this Detailed Analysis

Your Monthly Payments
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

More Tips on Buying a Home in London Ontario?

  We have put together a series of ezines for home buyers that are free of charge and there is no obligation on your part.

 Having the right tools (information) will make things go much smoother for you, you definitely will save time & money and 99% of the time, your home buying experience so much easier.

  Save money when buying a house from us

 Be smart, be wise and save money.