Hi Judy: Thanks for your questions and for thinking of me! Land transfer tax would be $3275.00. Our fee on a purchase with a mortgage is $900 plus HST and the usual disbursements. We usually tell clients to budget about $1600 plus the land... [ more
A Mortgage rate increase has happened over the last few days. Fixed rates moved up by 20-30 basis points. We still have a few lenders who have not moved yet, but fully expect to lose them any day now. 5 year fixed mortgages are now in the 4.2-4.3%... [ more
We will be seeing an increase to Fixed Mortgage rates over the next 24 hours. The bond rate has continued to inch upwards the past few days. We have had several lenders contacting us with warnings of rate increases.
If you are thinking of... [ more
What Does a Lender Consider When Looking at Your Mortgage Application?
Income and Job Stability – Your income determines how much you may borrow. In most cases, 32% of your gross income for salaried, non-self-employed or commissioned people is used to... [ more
The Mortgage Financing Process
The number one question a homebuyer often has is “What does the mortgage process entail?” In very simple terms, following is an outline of the process upon which you are about to embark:... [ more
The bond rate has moved up the last few days with news of stronger that expected U.S. job figures. There continues to be lots of turmoil with the Middle East situations and news of possible rate increases in Europe due to inflationary concerns.
There have been... [ more
Types of Mortgages
Mortgages can be a confusing subject. Buying or selling a home is an emotional decision and can be very stressful. As a mortgage advisor, I will take the confusion out of mortgages and make the process as smooth as possible.
In Canada, there are... [ more
The bond rate has risen by 25 basis points since the start of the month. Lender's started moving their rates up on Tuesday.
5 year fixed... [ more
We have had a week now to reflect on the recent government changes to mortgage policies. While it may not effect a lot of you, there are probably some of you, or you know someone who this may effect. The policies do not come into force until March 18th,... [ more
Flaherty tables new rules to curb household debt
By David Akin, Parliamentary Bureau Chief
Last Updated: January 17, 2011 8:15am
OTTAWA – The federal government Monday tabled a series of new rules aimed to curbing what it sees as the growing problem of... [ more
The Bank of Canada kept Prime Rate unchanged in their announcement this morning.
Overall economic growth in Canada was slightly slower than anticipated.
There is nothing in their wording which is a surprise.
To read the full article...... [ more
Hi Katie, Thank you for your request.
Yes, buying a home without having a down payment is possible. Some banks will give you the 5% down payment, if your credit history over the last 6 years is good, and you can afford the payments, based on a posted... [ more
So what does the lawyer do anyway? Well, here's a brief list of a few things your lawyer's office is working on behind the scenes, to make your deal close smoothly! First, we sometimes get contacted by your agent to assist in drafting the Offer, if there... [ more
Oct 29th, 2010
Something of huge value for home buyers with 0%-5% down payments....
Most clients who are looking for a "Free Down Payment" style of mortgage are getting 5.29% currently from the Bank.
I just... [ more
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