What are the Different Mortgage Types?

If you're looking to get a mortgage for your (soon to be) purchased home for the first time, the different mortgage terms and types that are offered by lenders out there might be overwhelming at first. Here are the most common mortgage types and their definitions:   TRADITIONAL (CONVENTIONAL) VS. HIGH-RATIO Traditional or Conventional Mortgage Traditional or conventional mortgages typically have low loan-to-value ratio. In other words, the amount of ...

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When Will COVID-19 Restrictions End?

It has been a few weeks since the announcement of non-essential business closures and measures were put in place to limit mass gatherings of people and enforce physical distancing amid the COVID-19 pandemic. As winter is coming to a close and temperatures are rising, it may be tempting to go outside and enjoy the sun. The question that is asked by most people is: when will these restrictions and measures ...

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Healthy Meal Delivery Options in GTA Suburbs

Unlike the downtown areas that are typically heavier in pedestrian traffic and have easy access to take-out food at all times of day, the suburbs have a higher reliance on cars or public transit to get around. Some public transit routes are being modified with reduced frequency due to lower ridership during COVID-19, and many dining options have been shuttered. Luckily, there are still plenty of take-out and delivery venues ...

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New Residential Rental Property Rebate-How to Calculate

New Residential Rental Property Rebate (NRRP) The majority of builders in Ontario include the HST rebate in the sale price of a home when they market to the public. This means that they price the property lower with the expectation that they are claiming the HST rebate back on behalf of the buyer. 1. Prepare for the extra money for closing.As investors, we cannot declare that we are moving into ...

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Buying a Home in the Middle of COVID-19 Pandemic

If you had planned to purchase a home this spring, the COVID-19 situation might be putting that plan on hold as a lot of open houses and in-person home showings are being cancelled or postponed. As of March 21, 2020, the Toronto Real Estate Board (TREB) and Ontario Real Estate Board (ORB) strongly recommend the pause of “in-person open houses during the Ontario State of Emergency”. This is in adherence ...

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Governmental Initiatives to Help Home Owners, Renters, and Potential Home Buyers During the COVID-19 Crisis

The COVID-19 crisis has resulted in numerous business closures, job losses, lay-offs, and tough economic times for many. Here are some of the governmental initiatives that have been announced to help home owners, renters, and potential home buyers during these unprecedented times.   For Home Owners: Mortgage Payment Deferrals for Up to 6 Months The Canada Mortgage and Housing Corporation (CMHC), which provides default insurance for insured loans, has announced ...

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FAQ on COVID-19 and Real Estate

There are a lot of uncertainties surrounding COVID-19, how it’s impacting the GTA real estate market, how long the situation will last, and factors that will play a part in your decision to buy or sell now or later. Below are some of the most frequently asked questions.   General FAQ   Is the GTA real estate market going to be heavily impacted by COVID-19? During economic downturns, the real ...

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