For those that are shopping for a new house, or looking to do a refinance (or even just a simple mortgage renewal), rates and numbers are an important part of the mortgage equation. When rates change even the slightest of percentage points, it could cost or save you thousands of dollars. Every once in a while, here… Continue reading Mortgage Monday Rate Update – February 2013
What time do I have to be out of the house?
This is one of the most common questions I get asked. The answer: it depends. As soon as the deal is closed, technically, you don’t own the house any more, and the new owner can make you leave. Practically, I advise my buyer clients to be patient and let the move finish. If you are… Continue reading What time do I have to be out of the house?
No Frills Mortgage
You may have heard the term “no frills mortgage” thrown around when mortgage shopping. No, we’re not talking about the No Frills grocery chain here… So what exactly does “no frills mortgage” mean? Generally speaking, a “no frills mortgage” is one offered by a lender that usually has a lower rate, but also comes with… Continue reading No Frills Mortgage
Appliances
Sellers are required to guarantee that your appliances are in good working order on the day of closing. What happens if the fridge breaks two days later? Any damage that occurs after the date of closing is the responsibility of the buyer. So, that stove is your repair cost. There are companies that will do… Continue reading Appliances
How Low Can it Go?
We’re talking about the 10-year fixed mortgage rate. Last year we saw them dip below the 4% mark (see some previous posts from last year: 10-Year Mortgage Below 4% & Should You Consider a 10-Year Mortgage?) and many Canadians started to make the switch to the previously unpopular 10-year term. The 10-year mortgage continues to be popular this… Continue reading How Low Can it Go?