If you're thinking of buying a home or transferring or refinancing your existing mortgage, use these handy calculators to:

• Figure out how much you can afford to spend on a home.
• Determine what your mortgage payments will be.
• Compare different ways of paying your mortgage off faster.
• Add lump sum or top-up payments to your mortgage calculation.
• See your amortization schedule (which provides a breakdown of principal and interest payments for the life of the mortgage)

When you find the home that's right for you, your next step is to make an offer to purchase the home from the current owner. The owner can accept your offer, make changes to the offer and present you with a counter-offer, or reject the offer.

About the Offer to Purchase
The Offer to Purchase is a legally binding agreement between you and the person selling the house. It's a good idea to have your lawyer review it with you before it is presented to the seller. It includes:

• Your name
• The seller's name
• The address or legal description of the property
• The price you are prepared to pay for the home
• The items you expect to be included in the purchase price
• The amount of your cash deposit
• Your financing arrangements
• The closing date
• Specific terms or conditions that must be met as part of the purchase
• A time limit for meeting these conditions

Discuss the Offer to Purchase with your lawyer before you sign it. Remember, it becomes a legally binding agreement the moment it is accepted. If you decide to cancel an offer that has already been accepted, you could lose your deposit and the person selling the home could sue you for damages. If the seller does not accept your offer, your deposit will be returned.