Sound Mortgage Advice - understanding your optionsWhether you are looking to refinance, buy your first home, upsize or downsize... the advice of a qualified and experiened Mortgage Broker cannot be underestimated. While your Bank or other Financial Institutions also offer mortgages, the person you will be working with is an employee of that institution and is typically only able to offer ...

Spring 2024 Mortgage Update - There’s no argument it’s more challenging to purchase a home today, but it’s not unachievable. Whether you're looking to buy your first home or you know someone who is, this message is for you. Let's start with the basics. Set Realistic Expectations - Set realistic expectations when buying a home. Lower rates in the past made it possible for some ...

Understanding the ins and outs of mortgage refinancing is essential for homeowners looking to improve their financial situation or take advantage of new opportunities. Let’s explore the process, benefits, considerations, and eligibility criteria associated with mortgage refinancing in Canada. I.What is Mortgage Refinancing? Mortgage refinancing refers to the process of replacing your ...

Not all insurance products are created equal. It is important to understand all the different insurance products to ensure you have proper coverage. The following are the main insurance product options you will encounter with homeownership, and what they mean. Hi-Ratio Mortgage Insurance (eg. CMHC): This insurance is mandatory for homes where the buyer puts less than 20% down. In fact, the ...

There is a connection between inflation and real estate, with some suggesting that the real estate industry serves as a hedge against inflation, particularly concerning rental income. Rental income growth and inflation are directly affected by factors such as market supply and demand, which determine a landlord's ability to raise rents. In times like these, investors should assess both income and ...

Your payment schedule is the frequency that you make mortgage payments and ranges from monthly to bi-monthly, bi-weekly, accelerated bi-weekly or even weekly payments. The following is a quick overview of what each of these frequencies mean: Monthly Payments: A monthly payment is simply a single large payment, paid once per month; this is the default that sets your amortization. A 25-year ...

Virtually every industry has experienced some sort of increase in costs due to rising inflation rates. With costs continuing to rise in recent months, some may be wondering why they rise in the first place and how the Canadian inflation rate is calculate.Here's a brief explanation of inflation and its effect on Canada's economy.What Is Inflation?Inflation, in its simplest terms, is the rise in ...

In this age of seemingly soaring interest rates, first-time homebuyers are uniquely disadvantaged. While everyone is feeling the pinch of recent announcements from the Bank of Canada if first-time home buyers couldn’t catch a break during the times of remarkably low-interest rates, what hope do they have now? Advice From Experienced REALTORS ® You can shop once you know the amount of ...

Sometimes, a story will appear in the news: “Condo buyers caught off guard by high closing costs.” Someone purchases a condo or other property without doing their homework. As the sale goes through, they’re surprised to find that closing costs are higher than expected due to fees that they didn’t budget for, especially in Toronto. It’s unfortunate that high closing ...

The Ontario government announced sweeping housing changesthat will override municipal zoning laws in some situations and allow for the construction of up to three units on each residential lot. Elements of the new legislation were first presented publicly at a ticketed Toronto Region Board of Trade event attended by Premier Doug Ford and Municipal Affairs Minister Steve Clarke.Speaking to the ...