Getting a mortgage or renewing?- Fix vs Variable Mortgage Explained

Home Buyers Tax Credit

The home that's right for you will have everything you need, and most of what you want. Here's how to tell the difference.

"To leave satisfied you must arrive prepared."

In most businesses, knowledge equals power, and real estate is certainly no exception.
The real estate market in Barrie and Orillia is certainly volatile, and all of the information about buying a home whether for home ownership or investing, can be overwhelming. The Shannon Murree Team can help!


Have you gotten a pre-qualified mortgage or need a referral to a mortgage professional? We've got you covered.
Do you have a home inspector? We have connection to great home inspectors!

Want some more information and get a free consultation? Contact a member of The Shannon Murree team today! Click here
Understand that it's important to have a professional real estate representative on your team when comes time to buy.
Experience matters! Think about how many homes a day you purchase compare to the daily transactions and experience of a professional REALTOR®. When you work with us:
  • We fight on behalf of our buyers.
  • We work at negotiating the best price
  • We speak your language at your level of comprehension
Contact a member of The Shannon Murree Team for your confidential interview and how we can assist you with your specific real estate needs. We're experienced and we care. 


*Not intended to solicit anyone with any written Agency Agreement whether buying, renting, investing or selling real estate in Barrie

Your Plan

1.  Find the right representative

Even if you’re not quite ready to buy, your buyer real estate sales representative can be an absolute wealth of information, and can often offer ‘scoops’ on local developments you might not have know about otherwise.  Speak to your Realtor® first and he or she can be helping to guide you right from the start.

2.  Find out what your price range is
Online mortgage calculators are a good place to start, but as you get closer to being ready to buy, there is no substitute for a written mortgage pre-approval.  Just speaking to your lender is an extremely worthwhile venture – this is the only way to really get an in-depth picture of your overall financial picture and to discover exactly what you can reasonably afford to spend on a home (and possibly on renovating). Make sure you ask for a mortgage committment and get it in writing!

3.  Find out what your local market looks like
The internet can be incredibly valuable in doing preparatory research.  Start with your Realtor® – he or she can direct you to valuable resources and immediately start e-mailing you real estate listings that may interest you (or at least give you a better idea of what your needs and wants are).

4.  Find out what your true needs and wants are
Compose a needs/wants list that takes into consideration your local market conditions, your price range, and the advice of your real estate representative.

5.  Find your dream home!
Once you’re ready to act, you may be surprised by how quickly you can make a decision.  Armed with your pre-approval, a little market knowledge, and your needs/wants list, call your real estate representative, hit the pavement, and when you see ‘the house’, put in an offer. 

With the right team behind you, it really can be that easy!

Your Calculator

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:  %

Never miss the perfect home!  Search for your dream home or investment property now.  Property Search (ALL Present Active Listings & Inventory) from the Barrie and District Association 

Looking for Residential, Commercial, Vacant Land or Industrial, click "Begin Search" to explore now


Home Buyer Reports


Be sure not to pay too much for your home!
Whether you are buying your first home, or your fifth, the process of buying a home is a detailed, time-consuming venture...
Read More 


Ensure A Smooth Home Purchase
Buying a home can be an emotional, time-consuming, and complex process...
Read More 


Avoid the Most Common Buying Errors
Shopping for a new home is an emotional experience. It’s also time consuming and comes with a myriad of details...
Read More 


Things To Keep In Mind When Buying Your First Home
Many renters are starting to think about purchasing a home of their own. Several factors should be considered when purchasing a home...
Read More 

Buyer Services

Avoid Buyer Errors...


Glossary of Canadian Real Estate Terms...