Feature Homes
Recent Sales
Business Directory
Presale Condos
The Well Evermore 831 Glencairn 2500 Yonge Wynford Gardens Artworks Tower Erin Square Vendôme The Keeley M The Garden District M2M Ellie Phoenix Aqualuna Universal City Prime 50 Scollard DTK The Cardiff Central 9th and Main ONE28 Pavilia UOVO Artists Alley II Maverick Auberge On The Park II Playground Sage X Theory Sugar Wharf Lumina Highlight Elgin East ERA at Yonge IN.DE Express 357 King West Saisons II The Prestige Riverside Square 5 D'or Markham Square 2 Guildwood 4800 Yonge Lakevu Bower Nord West Lakeside Residences Social The Kip District II The Diamond on Yonge M City II One Yonge East 55 Southport Square Nautique Lakefront Amber Valhalla Town Square Kingly Auberge On The Park Kingsway By The River 2 Harris Square Mississauga Square Saisons E2 33 Yorkville The Charles at Church Water Edge Avia Symphony Edge Towers Peter and Adelaide One Forest Hill Eight Forty Perla Towers ZEN King West Bauhaus Oak and Co Museum FLTS Cypress The Roncy Wesley Tower Television City B-Line 609 Avenue Road Indigo 2 Scoop West DuEast The Point Platform Queensway Park Trinity Ravine Towers 7 On The Park SF3 Avenue 151 Yorkville Plaza Midtown Avro Bianca Nobu Residences Artists Alley SuperSonic Canada House Panda Fleur Vita Two Transit City Westwood Gardens Nola Affinity Paradigm East Mirabella Bloor Promenade Islington Terrace The Bluffs YongeParc Wish The Plant Lake & East Lighthouse East Vita on the Lake Time and Space Seasons II Liberty Central II Nord East Sage Prestige The Icona M City I Ivy Via Bloor Mills Square The One Canvas 159 SW St Lawrence Aquabella 8 Cumberland Home Selene EV Royale MAX 75 On The Esplanade Seasons Vivo The Wyatt Joy SweetLife The West AXIS Grande Mirage AYC Park Avenue Place 2 Charisma Halo Residences on Yonge URL Bloorvista at Islington Terrace SIX25BV Rodeo Drive Empire Midtown The Kennedys The Park Club The Vanguard YSL Residences York 875 Queen East Parfait At Atria Sail 88 North Eighty One Wellesley The Rocket Cocoon Cosmos The Bennett on Bayview Fortune at Fort York Arc 330 Richmond Whitehaus Bside Minto Westside The Lanes The Met 158 Front SQ2 Heartwood the Beach Fifth on the Park Sonic The Step 150 Redpath Pier 27 Tower Picnic The High Park River City 3 Danforth Square The Bean The Clover on Yonge Connect Grid Stanley East United On The Danforth 609 Sherbourne St The Jack The Clairington LNX Daniels Waterfront The Bartholomew Tea Garden The Ravine Beacon Park Avenue Place Avani 2 at Metrogate Art Shoppe The Rosedale on Bloor Citylights on Broadway Blue Diamond Aquavista at Bayside Lotus Zigg Teahouse 5959 Yonge Minto Yorkville Park The Selby Riverside Square University Suites The Eglinton The Yorkdale Bristol Forward 87 Peter Soul Minto Westside Wellesley On The Park 50 at Wellesley Station Alter The Code The Cumberland The Taylor Totem Dundas Square Gardens YC Core VOX The Academy SQ at Alexandra Park On the Go Mimico Garrison Point Sage 6 Solstice Eau Du Soleil 2 The Dragon 181 Davenport 1 York Aqualina at Bayside 2221 Yonge 155 Redpath 383 Sorauren The Epicurean HighPark Casa 3 Axiom Eleven Superior The Station The Mark Yonge + Rich The College Quartz TRIO at Atria Beach Hill Residences The Randall Residence FAD King Blue Sage II Harbour Plaza Sixty Colborne The Britt 101 Erskine Canary District Pearl 2 Ruby 159 Wellesley Street Xpression II Xpression I 129 St Clair Crystal at Pinnacle Uptown Noir The Essential FLO The Carnaby Lofts TAO E 109 OZ ALTO Massey Tower CASA 2 Local At Fort York Abacus Lofts SkyCity INDX 501 Yonge Life Fabrik Grand Palace Minto 30 ROE Ten York 88 Scott Indigo Bay 7777 Weston Road 1331 Yonge Street The Perry Condos The Remington Centre 30 Ordance Street Smart House Downtown Erin Mills HOT Gordon Woods Pinnacle Grand Park II PSV 2 at Parkside Village 1 Yorkville Nero The Hill Key West 1Thousand Bay Rise 365 Church Mirage The Brant Park Picasso Alto at Atria Karma OpArt Lofts Flaire Jade Waterfront Cloud 9 133 Hazelton Spectra The Carlaw King Plus Condos The Beverley Hills Monde The Bond Rain 2 Ion Pears Avani at Metrogate Post House IVORY River City 2 The Yorkville Yorkville Plaza U Condo II U Condo I Tableau Studio II Studio I Rain 1 Pace One Bloor Neon Condo MYC Liberty Central King Charlotte Imperial Plaza ICE II ICE I Garrison Fuse Five Madison II Madison I Exhibit Cosmopolitan Bisha Backstage 3018 Yonge EXPO City

Mortgage Tips

Why Buy A Home

Since no two mortgages are exactly the same, there are a virtually endless number of variables which can significantly affect the overall cost of your mortgage. A very tiny change in one variable can save you tens of thousands of dollars on the total cost of your mortgage loan and allow you to own your house outright years earlier.

The single most important factor in any mortgage is the amount of down payment. In Canada any buyer who cannot pay a minimum of 20% of the value of the residential property in cash on closing requires Canada Mortgage and Housing (CMHC) insurance program, although GE Mortgage Insurance is also acceptable. These companies charge a premium based on the amount of money you are able to place as a down payment. The premiums vary, but the less that you are able to place as a down payment, the more the premium will be. The premiums are also higher for self-employed individuals. Naturally the best way to avoid these premiums is to avoid having to get mortgage insurance in the first place, but many families are simply not able to save a total of 20% when they buy a home. No matter what your financing situation, you should always consult a professional financial advisor prior to making any home mortgage decisions.

There are endless types of variable rate mortgages and they should all be approached with a level of caution. Most variable rate mortgages fluctuate in harmony with the prime lending rate. At a time of very low interest rates like right now, variable rate mortgages can be very advantageous. Although most financial experts believe that these rates will stay low for the foreseeable future, there have been times in the past when they have spiked way up. The prime rate is now about 2% but it was over 20% in 1980!Why Buy A Home

Adding an amount to a monthly mortgage payment can lead to disproportionate savings over the longterm. Selecting a mortgage which is set up to provide you "privilege payments" of 15%, for example, will allow you to pay off up to $15,000 per $100,000 of mortgage each year.

Many homeowners still pay monthly as they are not aware of the advantages of paying on a weekly or bi-weekly basis. Just changing the frequency of your payments while essentially not changing the total amount you pay every month at all, can shorten your mortgage by up to four years.

Nothing will damage your credit rating and put your home in jeopardy more than making payments late or skipping them altogether. Experts agree that you should always have three months of mortgage payments in your savings for unexpected emergencies. If you are unable to make a payment the worst thing you can do is avoid contact with your lender. Take the initiative to discuss your financial situation with your lending institution and in many cases arrangements can be made to safeguard your property from foreclosure.

 

 



Header Image Request More Information

Please Fill Out the Form to Get Extra Information.
First Name: *
Last Name: *
Email: *
Phone: *
Subscribed Member Giving Consent to Receive Email or Message Correspondence.
*Required Field
 
   Please enter Security Code into the box below.
 
This email has been delivered through Best For Agents email servers.
Submitted date:    
Type:   
Visitor IP Address:   
Posted from page:  
Form Name:  
Domain:  
Become A Member
Name:
 
Email:
Subscribe me:
Security Code:
Canadian Mortgages
Office: 905-277-0771       Mobile: 416-854-5060      Fax: 1888-682-4698    
Office Address 102-50 Burnhampthorpe Rd.W., Mississauga, Ontario L5B3C2