Posted on
January 25/2021By
northwood
It can be daunting for first-time homebuyers to make their way through this complex process. However, with our guidance, you’ll know more about what to expect and what to do. If you are a first-time homebuyer in the Toronto area, here are some things that will help make the process easier. Down payment. Before you even begin to shop for a home, you’ll need to save up for the down payment. The more money you can put forward as a down payment, the easier it will be to get a mortgage. It will also give you more equity in the…
Posted on
January 18/2021By
northwood
While the most exciting part of buying a home is looking at houses, the most crucial part is being informed. You want to be prepared and smart about your purchase. That is where mortgage calculators come in. These are tools that can help you get a better handle on your financial situation and the type of mortgage that is best for you. 5 Reasons to Use a Mortgage Calculator Here are some of the best reasons you should use a mortgage calculator before buying a home. Extra costs. A mortgage calculator can help you understand the full impact a mortgage…
Posted on
January 11/2021By
northwood
Buying property can be a complex and confusing process for first-time buyers, but it doesn’t have to be. Here are some of the answers to the most critical questions about mortgages and buying a home. What is a mortgage? A mortgage is a loan, usually given by a bank or other financial institution, large enough to be used to pay for real estate. You can get different mortgages, such as: Open mortgage. These are ideal for the short term and can be paid off as quickly as you want. Closed mortgage. With a closed mortgage, there are penalties for paying…
Posted on
January 04/2021By
northwood
Buying a home is a big purchase and comes with a hefty price tag. To pay for it, most people take out a mortgage. A mortgage is a large loan from a financial institution that comes with its own costs in the form of interest rates. It is vital to get a mortgage with a low interest rate. However, if you find yourself paying more for your mortgage than you’d like, you can refinance it for a lower rate. Mortgage Refinancing Refinancing your mortgage in Toronto is essentially paying off your current mortgage and taking out a new one. However,…
