Posted on Jan 28, 2021
When financing a home, make sure you’re prepared to deal with any challenges that come up. These can include a loss of income, increased expenses, or rising interest rates. The following tips can ensure you’re financially stable through many ups and downs.
• Choose a smaller mortgage. Get a smaller mortgage than the maximum amount you can afford. T...
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Posted on Jan 28, 2021
You will have many options when it comes to choosing a mortgage. Your lender or broker will help you find the mortgage that best matches your needs. Become familiar with the following terms and options to help with your decisions.
Amortization period: The length of time you agree to take to pay off your mortgage (usually 25 years)
Mortgage term: The...
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Posted on Jan 28, 2021
The process of searching for the perfect home can be both exciting and challenging. While you most likely have a fairly good idea of the things that are most important for you in choosing the right home, it may help to document them. Create a list of items and separate them into two buckets— “must-have” things that you can’t do without and “nice-to...
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Posted on Jan 28, 2021
When you hear “condominiums: your first image may be of a luxury high rise in a big city. However, a condominium is not a type of building, but a type of property ownership.
You can buy a condo within almost any type of residential structure. When you do, you purchase a “unit”, which consists of all the areas within the finished walls of your space...
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Posted on Jan 27, 2021
Adjustable interest rate mortgage: A mortgage where both the interest rate and the monthly payments vary based on changes in the market rates.
Amortization: The period of time required to completely pay off a mortgage if all conditions are met and all payments are made on time.
Application: A form used to apply for a mortgage. It includes all of th...
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Posted on Jan 27, 2021
The Canadian housing market is on the rise, and while conditions for buying a home have improved, there are still numerous misconceptions. To help combat the misconceptions, we have listed the 5 most common home-buying questions with answers below:
1. Is right now the best time to buy a home?
2. What type of home is right for me? What’s the differe...
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