The Right Way To Buy A Condo
Documents / First Time Home Buyer / Lenders / New to Canada / Pre-Approvals / Purchase / Qualifying / Rental Properties

The Right Way To Buy A Condo

  A condo or condominium is one of a group of housing units where each homeowner owns their individual unit space, and all the dwellings share ownership of the common areas. Condos can include high-rise or low-rise apartment units, townhomes and some duplexes depending on how the title is registered. The biggest difference between a … Continue reading

7 Mortgage mistakes you should avoid in 2016
Credit / Documents / Downpayment / First Time Home Buyer / Lenders / Market Updates / Mortgage Renewal / Pre-Approvals / Purchase / Qualifying / Refinance

7 Mortgage mistakes you should avoid in 2016

With the recent announcement of another mortgage rule change, we have been getting borrower inquiries about how this will affect potential financing options. The new minimum 10% downpayment requirement for properties with a purchase price of over $500,000 will not affect the majority of new borrowers unless you are buying in the higher priced property … Continue reading

What is the benefit of getting a pre-approval?
Broker vs. Bank / Credit / Documents / Downpayment / First Time Home Buyer / Income / Insurance / Lenders / Pre-Approvals / Purchase / Qualifying / Rates & Terms

What is the benefit of getting a pre-approval?

The government has made a number of changes to the mortgage rules over the past few years which have made a significant impact to the mortgage market landscape. I have found one of the major implications of these changes is that it reduces the number of people who can actually qualify for a mortgage now versus the … Continue reading

Who are you going to call?
Downpayment / First Time Home Buyer / Insurance / Lenders / New to Canada / Pre-Approvals / Purchase / Refinance

Who are you going to call?

  There are multiple professionals who are involved in a typical real estate transaction which may sometimes cause some confusion. Below you’ll find a summary of the most common individuals you will run into if you’re purchasing or refinancing a property and what expectations you should have of them. Start with the basics Your maximum … Continue reading

10 Things You Need to Know About Appraisals
Documents / Lenders / Mortgage Renewal / Purchase / Refinance / Rental Properties

10 Things You Need to Know About Appraisals

Appraisals are a valuable part of the real estate transaction and they are different than a market valuation provided by a real estate professional. What is an appraisal? An appraisal is an unbiased estimate of what a buyer might expect to pay (or a seller to receive) for a parcel of real estate. It is … Continue reading

The cost of buying is going up
Downpayment / First Time Home Buyer / Lenders / Market Updates / New to Canada / Purchase / Refinance

The cost of buying is going up

How much does it cost to get a mortgage? A couple of the most frequently asked questions I get are ‘how much downpayment do I have to have and what other costs will there be?’ My answer is to budget at least 1.5% of your purchase price in addition to your downpayment to cover additional … Continue reading