Reviewed by Micky Khaneka, licensed mortgage broker
A home purchase mortgage in Toronto has to match the property, not just the price on the listing. A condo downtown, a house in Leslieville, and a semi in Scarborough are underwritten differently.
MKG Mortgages sets the down payment, the monthly payment, and the condition dates before you write, then stays with the file through closing.
A broker can line up the down payment, the payment you can carry, and the condition dates before you write. MKG shops more than one lender and matches the file to the property, whether that is a condo, a house, or a new build.
Say a buyer is looking at an $820,000 condo in Midtown and has $180,000 set aside. Putting $164,000 down, about 20%, leaves a $656,000 mortgage. At an illustrative 4.4% on a 25-year amortization, the principal-and-interest payment is about $3,610 a month.
These are the kinds of home purchase files we structure in Toronto.
Illustrative example
The challenge. The condition date was close, and the documents were still in pieces.
How MKG structured it. We packaged income, the down payment, and the property for the lender in time for that date, and stayed with the lawyer through funding.
Illustrative example
The challenge. They wanted a ceiling before weekend showings, with cash kept aside for closing.
How MKG structured it. We split the savings into down payment and closing costs, then gave them a purchase range they could take to the showings.
Illustrative example
The challenge. The payment worked more comfortably once eligible rent was included.
How MKG structured it. We confirmed the suite with the lender's documents and used the rental income that program accepts.
A pre-approval sets the budget; the lender still reviews the specific property.
Status certificates slow Liberty Village and many downtown closings. The Annex and Midtown bring older houses and renovation questions. Etobicoke and Scarborough purchases are more often freehold, with different insurance and deposit timing. The lender still decides. Any example figure is illustrative.
Status certificates slow Liberty Village and many downtown closings. The Annex and Midtown bring older houses and renovation questions. Etobicoke and Scarborough purchases are more often freehold, with different insurance and deposit timing.
The note below is paraphrased from a public Google review. It is one client's experience, not a promise that the next file ends the same way. A rate in a client's words is not an offer from MKG. The lender still decides.
A buyer wrote that questions were answered in plain language and that the file stayed organized through to the lawyer.
Paraphrased from a public Google review of MKG Mortgages. Names and identifying details are left out.
Micky Khaneka is a licensed mortgage broker, FSRA M21002608, at FLOW Lending Group, Brokerage #12864. Canadian Mortgage Professional named him to the CMP Top 75 for 2026, at number 15 in Canada. The lender still decides. The lender still decides.
Micky Khaneka, licensed mortgage broker, M21002608, FLOW Lending Group, Brokerage #12864
The firm serves clients in English, Hindi, Punjabi and Bengali.
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People ask how home purchase works on a Toronto property, and what documents come first. The short answers below stay on this page. The lender still decides, and the office is in North York. The lender still decides. Any example figure is illustrative.
Before the offer, if the building or the house has anything unusual. Condo corporations and older homes both create document requests that eat a condition period.
Yes. Lenders often want the status certificate, the budget, and the declaration. A freehold house in Scarborough or Etobicoke is reviewed through the purchase agreement and the property itself.
Sometimes, with a bridge or a longer condition. The dates of the sale and the purchase have to be written down together, not hoped into alignment.
Land transfer tax in Toronto is its own line, on top of legal fees and adjustments. We separate that cash from the down payment so the offer is not short on closing day.
No. The lender still has to accept that building and that unit. A pre-approval is a budget, not a promise on a specific property.
The other services in this list each have a Toronto page. Open the one that matches the file, whether that is a purchase, a refinance, a renewal, a consolidation, self-employed income, or a private mortgage. The lender still decides. The lender still decides.
The Toronto hub names the neighbourhoods, the housing that shows up, and a local example. It links back to these service pages. The office that handles the file is in North York, and the lender still decides. The lender still decides.
Toronto area hubHome Purchase is written for each city MKG serves, not only Toronto. The local page changes the neighbourhoods and the example. The rules of the product stay the same, and the lender still decides. The lender still decides. Any example figure is illustrative.
Send the agreement or the mortgage statement for the Toronto property, or book a call. The first conversation is free. It is a review of this file, not an approval, and the office that handles it is in North York.
Sources. FCAC — mortgages · CMHC — mortgage loan insurance · Sagen · OSFI Guideline B-20 · Ontario land transfer tax · Toronto municipal land transfer tax Published rules change. Read the current page, and confirm tax with your lawyer, before you rely on a figure.
Any rate or payment mentioned is illustrative and on approved credit (OAC). It is not a quote, a commitment, or a current offer.