25 Apr

Subject to Financing- A Must!

General

Posted by: Lynn Nequest

Subject to Financing- A Must

Subject to Financing- A Must!With most people who are new to real estate and looking for their first home (or possibly second), one of the most significant times is when your offer to buy is accepted by a seller.
Unfortunately, that moment is quickly followed by stress, as not many people know what comes next- securing financing. 99% of the time a realtor will ask you if you have been qualified by a bank or a mortgage broker before they write an offer on your behalf. What should be told to you, the client, by the realtor and your mortgage broker is that you need to have a subject to financing condition in your offer.
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23 Apr

Are mortgage terms more important than rate?

General

Posted by: Lynn Nequest

Are mortgage terms more important than rate?Why are the terms more important than rate when it comes to a mortgage?

Simple. Seven out of 10 Canadians break their mortgages prior to the renewal date.
Taking the wrong mortgage when you could have qualified for a better one- is a costly mistake.

The biggest mistake anyone can make is they don’t think they need to make a change, or they’re the three-in 10 that won’t break a mortgage.

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19 Apr

Closing Costs

Mortgage Tips

Posted by: Lynn Nequest

Closing CostsClosing costs are a necessity when it comes to purchasing a home. They are not included in down payments, they are not included in monthly mortgage payments, nor are they included in the purchase price of a home, but you are still responsible for paying them, in full.

Knowing they exist is half the battle, and correctly budgeting yourself to pay them when the time comes can be a huge weight off your shoulders, especially when the alternative is finding out a week before you close on the purchase of a home that you still owe thousands of dollars.

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16 Apr

The Flexible Down Payment Program

General

Posted by: Lynn Nequest

The Flexible Down Payment ProgramOne of the toughest challenges for homebuyers is being able to save money at the rate of property price increases.
We know many high-income renters would like to be homeowners, but they’re just unaware of how to make the transition and are unable to save fast enough.
There are several options which are great for a down payment if you can use a combination or one of the traditional methods
1. Savings
2. Gift from parents
3. RRSPs
4. Selling an asset
5. InheritanceKindly keep in mind this option won’t be for everyone as the following criteria must be met; it’s simply to illustrate the opportunity to go from renter to owner as soon as possible.
The Flexible Down Payment program allows homebuyers to use existing credit facilities as their down payment.
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9 Apr

Top 5 Things To Consider When Building Your New Home

General

Posted by: Lynn Nequest

Top 5 Things To Consider When Building Your New HomeBuilding a new home – It’s something that many couples dream of. It can be an exciting, stressful, joyful, crazy time period that many walk away from saying “never again” or “bring on the next one!” We scoured the internet and sorted through our own experiences to bring you the Top 5 things to consider when you are building a new home.
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6 Apr

Unique Homes Have Special Problems

General

Posted by: Lynn Nequest

Unique Homes Have Special ProblemsRecently one of the former members of the boy band New Kids on the Block expressed an interest in buying this lighthouse off the coast of Virginia in the U.S. Unique homes can be a lot of fun to own and to live in.
However, there are some things you should be aware of before you make an offer on a unique property. He probably paid cash for this property because unique properties can be difficult to find financing for.
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5 Apr

Which Realtor Should You Use?

Latest News

Posted by: Lynn Nequest

 

Which Realtor Should You Use?Finding the best realtor for you involves doing some leg work. It can be overwhelming, kind of like choosing which ice cream you want to try! You go to the ice cream store and they have over 50 flavours and after you have contemplated, you opt for vanilla, just because it was easy.

Finding the best realtor for you is not “vanilla.”

Here are five questions you should always ask your potential real estate agent:

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4 Apr

3 Mortgage Terms You Need to Know

Mortgage Tips

Posted by: Lynn Nequest

3 Mortgage Terms You Need to KnowPrepayment, Portability and Assumability

Prepayments

One of the most common questions we get is about mortgage prepayments. The conditions vary from lender to lender but the nice thing about prepayments is that you can pay a little more every year if you want to pay off your mortgage faster. A great way to do this is through prepayments.

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