Archive for Mortgage Financing
Toronto Real Estate Tips for First Time Home Buyers
Toronto Real Estate First-Time Home Buyer Information Toronto Real Estate Home Buyer Tips Part 3: Considering a Mortgage After you’ve figured out your down payment, the next step in buying your first home is getting a mortgage. In many cases, you may be required to get pre-approval for a mortgage before you start actually shopping [...]
Toronto Real Estate Tips For First Time Home Buyers
Toronto Real Estate First-Time Home Buyer Information Before making the jump into looking for your home, finances are a big part of the whole home ownership game. Very few people can afford to throw a few hundred thousand dollars on one purchase, which is why we have mortgages. But before you get a mortgage, you’ll [...]
Buying Toronto Real Estate For Your Children
Is Buying Toronto Real Estate For Your Children A Good Idea? It may seem somewhat outlandish at first, but buying your kids a pice of Toronto real estate instead of making them pay rent to someone else can actually teach them financial responsibility while being profitable – buying them a home that has a basement [...]
Toronto Real Estate Predictions For The New Mortgage Rules
Toronto Real Estate Mortgage Rules We reported that qualifying for Toronto real estate financing just got a bit tighter when more new mortgage rules were announced by Canadian Finance Minister Jim Flaherty this week. What Do These New Mortgage Rules Mean For The Toronto Real Estate Market? The Toronto Real Estate market was predicted to [...]
Qualifying For Real Estate Financing In Toronto Just Got A Bit Tighter
Hot off the press… Mr Flaherty, our Minister of Finance, has just announced some measures to tighten up mortgage financing in Canada. The most impactful measure is that, effective March 18, 2011, 35-year amortization mortgages will not be available for anyone applying for a high-ratio mortgage (with less than 20% down payment). The typical choices [...]
More About The HST From The Toronto Real Estate Board
It has been just over five months since the Harmonized Sales Tax (HST) was introduced in Ontario. The HST applies both directly and indirectly to the cost of buying a home depending on what type of real estate it is. For newly constructed homes, the HST applies. For resale homes, the HST does not apply [...]
Bank of Canada Overnight Rate Target Stays At 1%
The Bank of Canada held its last meeting for the year this week, and in doing so decided to leave the prime rate target where it is – at 1 per cent. This means that those with a variable-rate mortgage will not see an increase in their monthly payments, but it is possible to still [...]
Harmonized Sales Tax and Toronto Real Estate Fact Sheet
Earlier this year, a survey came out that polled Ontario real estate agents on whether they thought their clients understood the new Harmonized Sales Tax that was introduced on July 1st. The majority of those surveyed said their clients didn’t understand what the Harmonized Sales Tax (HST) applies to, and in some cases it affected [...]
No Housing Bubble For Toronto Real Estate: BMO
The Bank of Montreal says that there is no cause for concern about housing bubbles in Canada or in the Toronto real estate market. With all of the worries about mortgage debt rising in Canada (The Canadian Association of Accredited Mortgage Professionals recently said that residential mortgages have finally topped $1 trillion) the Bank of [...]
Toronto Home Owners Can Also Take Advantage Of Today’s Low Mortgage Rates
If you’re an existing house or condo owner in Toronto, and your mortgage is coming up for renewal soon, it’s a great opportunity to lock in at historic low rates! Right now the five-year fixed rate mortgage can be obtained for about 3.5% at many lenders. Typically your existing mortgage lender will automatically send you a [...]
