Wasaga Beach, Simcoe County
Mortgage agents for Wasaga Beach
Plenty of Wasaga homes started life as cottages. Whether yours will be a full-time home, a second home or a rental changes the down payment, the lender and the paperwork, so that is the first question we ask.
Working with us in Wasaga Beach
Wasaga Beach sits on the south shore of Georgian Bay along the world’s longest freshwater beach, about 14 kilometres of it. The town has more than 24,000 full-time residents and well over a million visitors a year, which means a housing mix of year-round homes, converted cottages and seasonal properties.
We help Wasaga buyers and owners with purchases, second homes, renewals and refinances. The work is done by phone, video and e-signature, with our Barrie office there when you want to meet.
What is different about financing a home in Wasaga Beach
Cottages and seasonal homes are financed differently
Insured financing (the kind that allows less than 20% down) requires a home that is suitable for full-time, year-round living with year-round road access. A seasonal property, or one that needs work to be lived in all year, usually means a larger down payment or a different lender. Tell us what the property is before you offer and we will tell you which rules apply.
Buying a second home here
CMHC allows insured financing on up to two owner-occupied properties per borrower, as long as the home meets the year-round rules above. If you plan to rent it out instead, the lender treats it as an income property and the down payment and qualifying rules change. We model both before you decide.
Rural properties on well and septic
Outside the serviced areas, many homes are on a private well and septic system. Lenders often ask for a water potability test and a septic inspection as conditions of the approval, and an appraisal is more likely. We build those steps into your offer timeline so a condition does not catch you two days before closing.
Land transfer tax on a Wasaga Beach purchase
Ontario charges land transfer tax on every purchase, and Wasaga Beach adds no municipal tax on top. Qualifying first-time buyers get a refund of up to $4,000, which means no tax at all on a home up to $368,000. Here is the math at one example price.
Example only, not a quote. Rates and the refund rules are from ontario.ca, checked October 2026. The refund has conditions (age, residency, never having owned a home anywhere, and moving in within nine months); we confirm whether you qualify. Run your own numbers in the calculator.
| Example purchase price | $650,000 |
|---|---|
| Ontario land transfer tax | $9,475 |
| First-time buyer refund | −$4,000 |
| Net tax, first-time buyer | $5,475 |
| Net tax, repeat buyer | $9,475 |
Questions Wasaga Beach buyers and owners ask
How much down payment do I need?
In Canada the minimum depends on the purchase price. For homes up to $500,000 it is 5%. For the portion between $500,000 and $1,499,999 it is 10%. For homes at $1,500,000 and above it is 20%. With less than 20% down, the mortgage carries default insurance. We walk you through the options that apply to your situation.
What are closing costs and how much should I budget for them?
Closing costs include land transfer tax, legal fees, title insurance, a home inspection and adjustments for property taxes or utilities. In Ontario, budget roughly 1.5% to 4% of the purchase price. First-time buyers in Ontario may qualify for a land transfer tax refund of up to $4,000. Barrie and Simcoe County have no municipal land transfer tax.
Can I use a gifted down payment?
Yes. Most lenders accept gifted funds from an immediate family member for the down payment. A signed gift letter confirming the funds are not a loan is required. We can provide the template and walk you through what your lender will need.
Do I need to renew with my current lender?
No. At renewal you are free to shop around and switch to a different lender, often at no cost. Most lenders send a renewal offer about 21 days before maturity, but starting 120 days early gives you time to compare and negotiate. We can review your renewal offer against current options.
How do I get in touch with your team?
Call us at (705) 795-6678, Monday to Friday from 9 am to 5 pm, or start your mortgage plan online in three short steps and we will get back to you, usually within one business day.
Buying, renewing or refinancing in Wasaga Beach?
Three short steps online, or one phone call. We reply usually within one business day with what we need and what happens next.