Article courtesy of Genworth Canada. Land transfer tax. When a home changes hands, many provinces and a few municipalities charge a property transfer tax or title transfer fee. Rates are usually on a scale of 0.5% to 2% of the home’s value and can add thousands to your purchase price. First-time homebuyers qualify for rebates… Continue reading 10 Closing Costs When Buying a Home
Author: Tim
Tim is a mortgage agent in Barrie who specializes in helping first-time home buyers. He works with a variety of lenders and can help customize a mortgage with the best rates & options that fit the needs of each customer.
Mortgage Monday Rate Update – August 2012
Whether you like it or not, stats and numbers are a part of the world of mortgages. When rates change even the slightest of percentage points, it could cost or save you thousands of dollars. Every once in a while, here on the Mortgage Monday posts, I’ll update you on what’s going on in the world of mortgage… Continue reading Mortgage Monday Rate Update – August 2012
The Writing’s on the Wall for the 80% HELOC
If you’ve been holding off looking into a readvanceable mortgage or HELOC (Home Equity Line of Credit) and are looking to use up to 80% of your home value, you’re running out of time to get it done. The new underwriting mortgage rules (that we looked at a couple of months ago) that were brought… Continue reading The Writing’s on the Wall for the 80% HELOC
Happy Simcoe Day
Another Monday, another holiday (not that I’m complaining). No Mortgage Monday blog post this week. Enjoy the long weekend! And if you’re still in town, make sure to drop by Kempenfest 2012. Went with the family this morning – the weather was beautiful, and there are tonnes of things going on! TimTim is a mortgage… Continue reading Happy Simcoe Day
Softening House Prices: Silver Linings or Dark Clouds
Article courtesy of MCAP. As housing market data begins to show that prices may be trending a little lower – or at least flat – in some areas in Canada, the debate about the relative benefits or detriments of this new reality has begun in earnest. With new mortgage rules also in place for almost… Continue reading Softening House Prices: Silver Linings or Dark Clouds