Matthew Im

Straight answers, GTA-specific

Questions People Actually Ask

The questions buyers, sellers, and borrowers across the Greater Toronto Area bring to a dual-licensed Realtor and Mortgage Agent — answered plainly. Updated September 2026.

Working With Matthew

What does a dual-licensed Realtor and Mortgage Agent do differently?

Most buyers juggle two professionals: a real estate agent who negotiates the home and a mortgage broker who arranges the financing — and things get lost in the handoff. Matthew Im holds both licences (Ontario Real Estate Salesperson with RE/MAX Realtron Smart Choice Team, and Mortgage Agent Level 1 #M24000738 with Get A Better Mortgage Inc., FSRA #10874). The offer strategy and the financing strategy are built together: your offer price reflects what you can actually finance, your closing dates line up with your rate hold, and one person is accountable for the whole transaction.

What areas of the GTA does Matthew Im serve?

Toronto, North York, Etobicoke, Scarborough, Brampton, Newmarket, and the surrounding Greater Toronto Area. Real estate services run through RE/MAX Realtron Smart Choice Team (183 Willowdale Ave, Toronto); mortgage services through Get A Better Mortgage Inc. (642 The Queensway, Etobicoke). Consultations by phone at 647-649-1282.

Does Matthew Im work with Korean-speaking clients?

Yes — Matthew serves clients in both English and Korean (한국어 상담 가능), for residential and commercial real estate as well as mortgages across the GTA.

What does it cost to work with a mortgage agent in Ontario?

For most standard residential mortgages, nothing out of pocket — the lender pays the brokerage a finder's fee after your mortgage funds, and your rate is the same or better than going direct because brokers shop lenders against each other. Fees can apply on some alternative or private lending files, and they are always disclosed in writing before you commit.

Buying

Do I have to pay my real estate agent as a buyer in Ontario?

In most GTA resale transactions the buyer's agent commission is paid out of the transaction via the listing brokerage, not as a separate bill to you. Under Ontario's TRESA rules your representation agreement spells out the commission and what happens in the rare case a seller offers less than the agreed amount — you'll see and sign that before touring homes, so there are no surprises.

What is the minimum down payment on a home in Canada?

5% of the first $500,000 of the purchase price and 10% of the portion above $500,000, as long as the price is under the insured mortgage cap of $1.5 million (raised from $1 million in December 2024). At $1.5 million or above, the minimum is 20%. Under 20% down also means mortgage default insurance (CMHC, Sagen, or Canada Guaranty) added to your loan.

Is the HST really removed on new homes in Ontario now?

Yes — this is law, not a proposal. Ontario's Bill 114 received Royal Assent on May 12, 2026: the enhanced rebate removes up to $80,000 (the full 8% provincial HST portion on a $1M new home) for any buyer using it as a primary residence — not just first-time buyers. Stacked with the federal First-Time Home Buyer GST Rebate (up to $50,000), eligible first-time buyers can see up to $130,000 in total HST relief on a $1M new build. The catch: the agreement of purchase and sale must be signed between April 1, 2026 and March 31, 2027, and CRA rebate processing starts in fall 2026 — so whether your builder credits it at closing or you bridge it matters. Resale homes don't qualify (no HST on resale).

How much is land transfer tax in Toronto?

Buyers inside the City of Toronto pay two land transfer taxes — the Ontario provincial LTT and Toronto's municipal LTT, which roughly doubles the bill compared to buying in the 905. First-time buyers get rebates of up to $4,000 (Ontario) and $4,475 (Toronto), which fully offsets the tax on homes up to roughly $400K provincially and $400K municipally. Matthew's land-transfer-tax calculator on matthewim.ca gives the exact figure for any price.

How long does a mortgage pre-approval take, and how long does it last?

With documents in hand (income, down payment confirmation, ID), a pre-approval typically comes together in 24–72 hours. Most lender rate holds run 90 to 130 days — long enough to shop seriously. A true pre-approval with a rate hold also protects you if rates rise while you search.

Mortgages

What is the mortgage stress test in Canada?

Federally regulated lenders must qualify you at the HIGHER of your contract rate plus 2% or the minimum qualifying rate floor — not at the rate you'll actually pay. It applies to both insured and uninsured mortgages at banks, though switching lenders at renewal on a straight switch no longer requires re-passing it for uninsured mortgages. The practical effect: your maximum approval is lower than the contract rate alone suggests, which is why running the numbers before you shop matters.

Is a mortgage broker better than going to my bank?

Your bank can only offer its own shelf. A mortgage agent shops your file across the market — Matthew has access to 97+ lenders through Get A Better Mortgage Inc., including major banks, monoline lenders, credit unions, and alternative options. That competition matters most at renewal, for self-employed borrowers, for rental portfolios, and whenever your file doesn't fit one bank's box. Same or better rates, more approval paths, one application.

Should I just sign my bank's mortgage renewal letter?

Almost never without checking the market first. Renewal letters routinely open above the rates the same lender offers new clients. Start shopping 120 days before maturity — that's when rate holds kick in — and have a broker price your renewal across the market. Even a 0.25% improvement on a $600,000 balance is roughly $75 a month, every month, for the term.

Can self-employed borrowers get a mortgage in Canada?

Yes — but the path depends on how your income shows on paper. With two years of strong personal tax returns, prime lenders work fine. If you write down income aggressively, alternative lenders qualify you on bank statements or stated income at slightly higher rates, often as a 1–2 year bridge back to a prime lender. This is exactly the kind of file where a broker with 97+ lenders outperforms a single bank.

Selling

What is a comparative home evaluation and what does it cost?

It's a professionally researched estimate of what your home would sell for right now — recent comparable sales, current market positioning, and pricing strategy for your timeline. Matthew provides it free with no obligation, for houses and condos across the GTA. Request one at matthewim.ca/real-estate/home-evaluation or by calling 647-649-1282.

When is the best time to sell a home in the GTA?

Spring (March–May) and fall (September–October) consistently bring the most buyer traffic, but the better answer is: when supply in YOUR segment is thin. A well-prepared, correctly priced home sells in any month — and preparation (decluttering, staging, pre-list repairs, photography) moves the outcome more than the calendar does.

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