How Mortgage Pre-Approval Works in Ontario: The Stress Test, Your Documents and Locking a Rate
A mortgage pre-approval tells you how much a lender is prepared to lend and holds a rate for a set period while you shop. It is the first real step in any purchase. It is also where three things get decided: whether you pass the mortgage stress test in Canada, which documents the lender needs, and whether a fixed or variable mortgage suits you. This guide covers each, with the practical detail that Toronto mortgage advice often skips. What is mortgage pre-approval in Ontario? Mortgage pre-approval in Ontario is a lender's conditional assessment of how much you can borrow, based on your income, debts, credit history and down payment. If the lender is satisfied, it issues a written approval with a maximum amount and a rate hold. Three points matter: It is not a final approval. The lender still has…
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Nima Nojavan-KheiraddinResidential real estate · Toronto
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My listings
Homes and opportunities I'm representing now.
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2 Bed 2 Bath Townhome - Vaughan, Ontario
12 Woodstream Blvd 118
N13631436
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Development Land in Etobicoke, Ontario
21 Seventeenth St
W13865902
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Coffee Shop for Sale in Etobicoke
Suvari Coffee
W13723466
- Off-market commercial The deals that never reach MLS. Industrial, office and retail opportunities are often offered quietly first. Ghatan Group gives qualified buyers and investors access to them. Request access at GhatanGroup.com
The portfolio
Recently purchased
Recent wins for my buyers.
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PurchasedVaughan
Below Asking
N12545212
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PurchasedToronto
Below Asking
C12865038
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PurchasedKitchener
Below Asking
40784583
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PurchasedNewmarket
Below Asking
260 Eagle St 4 - Off Market
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PurchasedToronto
Below Asking
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Behind the walls
Fun facts, house and condo
The drawings from my Home X-Ray, with a few things most people don't know.
The house
A Toronto bay-and-gable.
Tall gables, bay windows, narrow lots: the house Toronto is known for. Tap a ring to see what's worth knowing about each part of it.
1 / 8 · The roof
Asphalt shingles, the most common roof on Toronto houses, usually last 15 to 25 years. A roof near the end of its life is a cost worth pricing into an offer.
The condo
Mid-rise or high-rise.
Buy a condo and you own a unit and a share of everything around it. Tap a ring to see how the building, the money and the rules work.
1 / 7 · New buildings
A new Ontario condo comes with a Tarion warranty: one year for workmanship, two years for things like plumbing and water leaks, and seven years for major structural defects.
In their words
Client reviews
What it's like to work together, from the people who have.
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We had an absolutely amazing experience working with Nima as our realtor! From the very beginning, Nima was incredibly helpful, professional, patient, and supportive throughout the entire process. Finding the right place can be stressful, but Nima made everything so smooth, easy, and stress-free for us. Nima was always responsive, answered all our questions, guided us through every step, and genuinely cared about helping us find the right home. We…
Akshata Shete3 weeks ago
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Working with Nima was an absolutely amazing experience from start to finish. He is incredibly knowledgeable, professional, and truly dedicated to his clients. Throughout the entire rental process, Nima communicated clearly, kept us informed every step of the way, and made what could have been a stressful experience feel smooth and manageable. What really stood out was how hard he worked to help me and my children secure the right…
Sam_a_new6 months ago
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Working with Nima was the best experience , and I truly can’t recommend him enough!!! From day one, he was incredibly dedicated, and respectful of my needs and preferences. He took the time to answer every single one of my questions, ease all of my concerns throughout the entire process. His communication was exceptional. He kept me updated every step of the way, explained the entire process in detail, and…
Gerlinde Gloria A3 months ago
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I would like to sincerely thank Nima for his incredible support and professionalism. He is not only knowledgeable in his work, but also extremely responsible, dedicated, and committed to his clients. What makes Nima truly special is that he does not give up until he has done everything possible to help you reach your goal. He follows up on every detail, keeps you informed, and never stops negotiating or advocating…
Atieh .D3 months ago
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Amazing experience working with Nima! From start to finish, everything was incredibly fast and smooth. He found great options right away, booked showings quickly, and was always super responsive. We worked on a property at Yonge and Eglinton and were able to find the right place and close in less than one week — absolutely incredible! Nima is highly professional, very knowledgeable, and truly goes above and beyond. I’m beyond…
Cathy Ruetas4 months ago
Ratings and reviews from Google
Notes & insight
Latest reading
Plain-English notes on buying, selling and owning well.
How Mortgage Pre-Approval Works in Ontario: The Stress Test, Your Documents and Locking a Rate
A mortgage pre-approval tells you how much a lender is prepared to lend and holds a rate for a set period while you shop. It is the first real step in any purchase. It is also where three things get decided: whether you pass the mortgage stress test in Canada, which documents the lender needs, and whether a fixed or variable mortgage suits you. This guide covers each, with the practical detail that Toronto mortgage advice often skips. What is mortgage pre-approval in Ontario? Mortgage pre-approval in Ontario is a lender's conditional assessment of how much you can borrow, based on your income, debts, credit history and down payment. If the lender is satisfied, it issues a written approval with a maximum amount and a rate hold. Three points matter: It is not a final approval. The lender still has…
Read
How to Research the Best Neighbourhoods in Toronto Before You Buy
The best neighbourhoods in Toronto are the ones that fit your budget, your daily routine and your plans for the next ten years. A listing shows you a house. It rarely shows you the school boundary, the zoning, the application for a tower down the street or the creek behind the lot. This Toronto neighbourhood guide walks through four checks you can do before you make an offer, using public sources, and explains why each one matters. What neighbourhood research means in Ontario In Ontario, a neighbourhood is not a legal unit. School boards, municipalities and conservation authorities each draw their own lines, and those lines often do not match the names on a real estate map. Good research means checking each authority separately: The school board decides which school your address is assigned to. The municipality decides what can…
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Reserve Fund Studies in Ontario: A Toronto Condo Buying Guide to Fees and Special Assessments
If you are buying a condo, the monthly fee is only part of the cost. The reserve fund study tells you whether that fee is realistic. This Toronto condo buying guide explains how a reserve fund study works, how it points to future condo fees in Toronto, and how to spot the risk of a special assessment before you commit. What is a reserve fund study in Ontario? A reserve fund study is a professional report on the major common elements of a condominium and what it will cost to repair or replace them. Roofs, elevators, parking garage membranes, windows, boilers and building envelopes are typical examples. Under Ontario's Condominium Act, 1998, a condo corporation must keep a reserve fund for these major repairs. It must have the fund's adequacy reviewed by a study: The first study is due within…
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Move the price and all three follow, the way the full tools share numbers. On a computer, drag them around too.
$3,880
a month, 20% down, 25 years
rate
The full calculator
$28,950
Ontario and Toronto
Before first-time buyer rebates.
All closing costs$65,000
7.2% of the price
5% of the first $500,000, 10% of the rest.
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The approach
With me, you don’t buy with confidence, you close with it.
I'm Nima. My work in commercial and investment real estate has taught me to look beyond the property itself, to the numbers, the risks and the details that matter. I bring that same approach to every residential transaction.
Nima Nojavan-Kheiraddin
Real Estate Sales Representative, B.Sc.
C+1 416 800 4455- O+1 416 226 9770
- F+1 416 226 0848
- Enima@nima.house
- A28 Drewry Avenue, Toronto, ON M2M 1C8
HomeLife/Cimerman Real Estate Ltd., Brokerage
This material is not intended to solicit properties already listed for sale, individuals under contract with another brokerage, or self-represented parties, as outlined by RECO guidelines.