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7 Things You Must Do When Buying a Condo in Toronto

Posted onMarch 29/2021By

Buying a condominium is a different experience from buying a house, but it can be just as exciting. It is easy to see why so many Torontonians are moving into condos. They are reasonably-sized, affordable homes in the middle of attractive locations. Condos can also be a great investment opportunity if you can get a low mortgage rate. However, there are some important things that you must do before purchasing a condo. Budget for fees. There are extra fees that you’ll need to be prepared to pay when you buy a condo. These include occupancy fees, which are charged to…

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Is a High-Ratio Mortgage Right for Me?

Posted onMarch 15/2021By

In Canada, homebuyers have a variety of mortgage options, including a high-ratio or a low-ratio mortgage. Understanding the difference can be key to how much you pay for your home over the long term. What is a high-ratio mortgage? A high-ratio mortgage is one where the buyer pays less than 20 percent of the purchase price of the home as a down payment. It is called a high-ratio mortgage because of the difference between the mortgage amount and the purchase price, also called the loan-to-value ratio. A low-ratio mortgage is one where the buyer puts down more than 20 percent…

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What to Look for in a Mortgage Broker

Posted onMarch 08/2021By

When it comes time to buy your home, don’t make your bank your only stop. If you want to uncover a wide variety of options and mortgage opportunities, you’ll want to talk to a mortgage broker. Also called “mortgage advisors”, these professionals are like the middle person between you, the homebuyer, and different lenders. One of the main advantages of going through a mortgage broker is that they are connected to many lenders, which means you don’t have to settle for the mortgage your bank offers you. A mortgage broker’s job is to shop around to find you the best…

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Mortgage Investing 101: What You Need to Know

Posted onMarch 01/2021By

Mortgage investing can be an excellent way to enter the real estate market and create a fixed-income investment. Similar to other investment options, mortgage investing does have some risks. Overall, though, because it relies on real estate as collateral, it is a relatively stable way for people to invest their money. However, before you get started, there are a few things you should know. Mortgage Investment Strategies There are three methods you can use when it comes to mortgage investment. These include: Professional mortgage fund/Mortgage Investment Corporation. This a pool of money from various investors such as yourself. A professional…

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