Resources

Using the equity in your property can help grow your wealth and save thousands of dollars in interest over the life of your mortgage.  At the end of the day, we all want to pay off our mortgages faster and if all goes to plan, maybe leave our home or properties to our kids without a mortgage balance owing (lucky for them).  What if there was a mortgage strategy in place that can help you build a real estate portfolio, pay off debts and still pay off your mortgage at a faster pace? By doing this you can potentially leave the property/properties to your child/ren free and clear?
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All inspections should take between 2-3 hours minimum. If they are shorter, this may be a red flag.
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A mortgage pre-approval allows for the home buyer to know their borrowing power. It is a great option for those looking to buy a home to get an idea of what price range they can afford. Applying for a pre-approval is very easy and absolutely free. The great thing about pre-approvals is you are not obligated to the lender or mortgage broker from whom you received the pre-approval from.
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If you asked your bank representatives how are fixed and variable mortgage rates calculated and did not know how to answer your question, what would you think? If you asked your bank representative how they calculate their fixed rate mortgage penalties and they did not know, would you still want to work with them? Majority of people still do.

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The current market rates are low and definitely to take advantage of. Here are a few mortgage tips you may want to consider with your current mortgage and save money for the future.
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Fixed Rate Mortgage vs. Variable Rate Mortgage

Which mortgage is the better way to go? Most people go for the fixed rate mortgage because it is the safe choice; it provides stability and gives the feeling of comfort knowing exactly what you will be paying on your mortgage for the fixed term.
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Appraisals

Appraisal is simply an expert opinion from a state-licensed professional on how much the value of the property really is. An appraiser uses many factors when determining the property value. They do a full detailed report and explain on how they came up with the property value. The first step is to physically examine the property inside and out to see which features bring up the value. They also look at location and recent sales around the property at question and provide anywhere from 3-4 comparables in order to better determine the value. These properties have to be very similar to the property being appraised; to specific components such as: lot size, square footage, garage type, finished or unfinished space, etc.
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If you are a new immigrant to Canada, obtaining a mortgage has never being easier.  You can qualify for a standard mortgage of up to 95% of borrowing.  That is right, up to 95%!  This program is open for all new immigrants with permanent residency, temporary residency, or a work VISA.
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When looking for homes in the city, one will notice that to get a decent sized home in the City of Toronto, you will have to start digging deep into your pockets. It is no secret that this city is one of the most expensive to purchase real estate in and furthermore bidding wars are very common when it comes to the single residential homes. When thinking about affordability, if an individual on their own cannot support the payments on their own, what is a typical solution? Get a partner.
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