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Finding the Lowest Mortgage Rates in Toronto

Posted onJanuary 24/2022By

Getting a good mortgage rate is essential. Having a low mortgage rate in Toronto can save you thousands of dollars, no matter your goals. Here are some ways that you can secure a low mortgage rate on your next application. Improve Your Credit Score A strong credit score is essential to getting the best terms and lowest rates. The higher your credit score is, the more a lender will want to work with you. Your credit rating demonstrates your responsibility with money. If you have a poor history of not paying your bills or you have high credit card debt,…

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Getting a Mortgage in Toronto: Here’s What You Need to Know

Posted onJanuary 17/2022By

Getting a home in Toronto can seem overwhelming, particularly in today’s competitive market. It’s good to equip yourself with the knowledge you’ll need to apply for a mortgage and succeed. Here are the essential things you need to know about getting a mortgage in Toronto. Save up Homebuyers need to put some money towards the house before being approved for a mortgage. A lender will not offer you the full price of the property. You’ll need to show them you are serious and responsible—plan on saving between five and 20 percent of the sale price. Remember, the more you put…

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Ontario’s Housing Market Is Growing: Here’s How You Can Take Advantage

Posted onJanuary 10/2022By

The housing market in Ontario continues to boom. Research found that supply dropped by 43 percent, causing prices to increase significantly. The average house price in Toronto is over $1 million, yet interest rates are staying incredibly low. Whether you are a home buyer, seller, or even just a property owner, there is a way that you can take advantage of the market. Let’s look at how. Benefits for Sellers The obvious benefit for sellers is increasing your asking price and fully expecting to get that or more. Real Estate professionals have noted that most homes have over ten offers…

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Choosing Between a Fixed, Variable, or Hybrid Mortgage

Posted onJanuary 03/2022By

Applying for a mortgage can be a big decision. There are many factors to consider, such as the interest rate, the term length, etc. One of the most important choices you’ll face is whether to get a fixed-rate mortgage, a variable mortgage, or a hybrid mortgage. What is a fixed mortgage? A fixed mortgage is one where the interest rate stays the same throughout. This makes it easy for homebuyers to budget their mortgage payments as the amount of interest they pay each month doesn’t change. It also protects the borrower from fluctuating interest rates, particularly when they increase. However,…

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