Found 2 blog entries tagged as homebuyer.

What size of mortgage can I afford

When purchasing a house, most people need a loan be able to afford the home. These loans are called mortgages. A mortgage is a legal agreement where a bank or other lender loans money and charges interest in exchange for taking the title of the borrower’s property. Upon repayment of the debt, the borrower owns the property.

In Canada, to purchase a home, the buyer must first save up a down payment for the home. The minimum amount required is five per cent of the purchase price up to $500,000; 10 per cent of the portion between $500,000 and $999,999; and 20 per cent for the amount above $1,000,000. As well, if the down payment is less than 20 per cent of the purchase price, the buyer must also purchase mortgage loan…

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Canadian real estate and vaccine passports

Canadian real estate experienced a spike in interest and activity during the last 18 months, despite COVID-19 – or, as some might have it, due to it. The moratorium on travel, the rise in remote working and learning, lockdowns and general economic uncertainty have prompted many Canadians to set their sights on the Canadian housing market as a safe place to spend their time and invest their money. As with most social and many transactional activities, home hunting took a digital turn, with virtual tours and digital paperwork allowing for safe, “touchless” transactions. Now, as life slowly returns to some version of its formal self, you may have noticed “open house” signs popping up again, leaving many wondering about…

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