Found 3 blog entries tagged as mortgages.

Mortgage picture

It is best in our current market to get a pre-approval for a mortgage.  You can go to your bank and speak to them about your options, or you can contact mobile mortgage specialists who will help you with all of your needs.

MORTGAGE TYPES/OPTIONS
It is best to speak with a professional in the mortgage industry, but some options for younger buyers are:
0% down, etc.
Do not let o% down fool you as you will need some money up front for your deposit, which will likely come from a line of credit.

5% Down Payment
The following is an excerpt from the Canada Mortgage and Housing Corporation Website under the topic of “Mortgage Loan Insurance”:

“Get into your home sooner.  Mortgage Loan Insurance helps you do it.  Put as littles as 5% down. When you need a…

1272 Views, 0 Comments

Read Full Post

Mortgage Insurance or Life Insurance?

For many Canadians buying a home is the single largest investment in their lifetime.

You’re excited and stressed – not only because of the financial commitment, but because it’s about a place and a community that you have set your heart on.  It is during this emotional time you will meet with a lender to arrange the mortgage and you will also be asked to purchase Mortgage Insurance. If you’re like many people, you may have overlooked insurance in the home buying process.

Buying a home is an exciting time! Buy ensure you are making an informed decisions about protecting your investment, and your future. So what is the difference between Mortgage Insurance and Life Insurance?

Mortgage Insurance

…

1004 Views, 0 Comments

Read Full Post

 

The total cost of buying a house goes beyond just its price.  Your Real Estate Agent or Lawyer will be able to tell you exactly how much you’ll have to pay.

LAND TRANSFER TAX | .5-2% of value
When a home changes hands, many provinces and a few municipalities, charge a property transfer tax, or title transfer fee.  It can add thousands to your purchase price. (First time home buyers qualify for rebates or exemptions in some provinces)

APPRAISAL FEE | around $500
Your lender may ask you to have a home appraised to confirm its market value.  Fees vary depending on a property’s value and complexity.

LEGAL FEES | $500-$800
A lawyer or notary will help protect your interest by reviewing your purchase agreement, searching the property titles, and…

1309 Views, 0 Comments

Read Full Post