Reviewed by Micky Khaneka, licensed mortgage broker
Vaughan purchases run from townhomes in Vellore to larger houses in Kleinburg, and the down payment those prices need is the first constraint.
MKG Mortgages works from the North York office with Vaughan buyers on qualification, the offer, and the closing, including files a single bank branch would rather pass on.
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.
A $960,000 townhouse in Vellore, with $200,000 saved. Using $192,000 as the down payment leaves $768,000 to be mortgaged and about $8,000 still in the account. At an illustrative 4.5% over 25 years, principal and interest is about $4,260 a month.
These are the kinds of home purchase files we structure in Vaughan.
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.
Woodbridge and Maple are busy resale markets with a mix of semis and detached homes. Vellore is heavy on family towns and newer detached houses. Kleinburg prices sit higher and the lots are larger. Thornhill straddles the Toronto line, and Concord includes more condo and stacked product.
Woodbridge and Maple are busy resale markets with a mix of semis and detached homes. Vellore is heavy on family towns and newer detached houses. Kleinburg prices sit higher and the lots are larger. Thornhill straddles the Toronto line, and Concord includes more condo and stacked product.
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 Vaughan 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.
Here are the real numbers. Under $1.5 million, the minimum is 5% of the first $500,000 and 10% of the rest. Illustrative example.
On a $1,200,000 Woodbridge semi that's $95,000. At $1.5 million and above, you need 20%, so $300,000 on a $1.5 million home. With less than 20% down, the mortgage is insured and you pay a premium that's added to the loan.
Business owners and anyone with a credit bump may be asked for more. On top of the down payment, plan for land transfer tax and legal fees.
Checked October 18, 2026. https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/mortgage-loan-insurance-homeownership-programs/purchase
Yes. Townhomes and detached houses in Vellore and Maple move quickly, and a condition period is a poor time to discover the down payment does not cover tax and fees.
The steps are the same. The price, the lot, and sometimes a well or a renovation are not. Higher prices also change how much of the price can be insured versus conventional.
The condition date drives the appraisal, the documents, and the lender conditions. We keep the lawyer and the lender on that date rather than starting the file after it.
Only if the lender and the property both support it. A finished basement is not automatically income. We say so before you rely on it to qualify.
Both. A first purchase needs the steps named. A move-up needs the sale and the purchase dates written on the same page.
The other services in this list each have a Vaughan 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 Vaughan 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.
Vaughan area hubHome Purchase is written for each city MKG serves, not only Vaughan. 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 Vaughan 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.