Ask Ross

Author's details

Name: Ross Taylor
Date registered: April 14, 2013
URL: http://www.askross.ca

Latest posts

  1. Rising interest rates and how they impact your mortgage — July 11, 2017
  2. Toronto mortgage borrowed down payment no problem — July 4, 2017
  3. Seven Steps to Buying Your First Home — June 29, 2017
  4. First Time Home Buyer Government Incentives — June 26, 2017
  5. Five Common First Time Buyer Mistakes — June 21, 2017

Author's posts listings

Rising interest rates and how they impact your mortgage

It’s out there. Big time! The buzz about rising interest rates. Whether that time has finally arrived … or not, here is how the inevitable upward trajectory will directly affect you and your mortgage. RISING INTEREST RATES WHEN RENEWING YOUR MORTGAGE: These days, most mortgage lenders are getting in touch with their clients as far as …

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Toronto mortgage borrowed down payment no problem

A Toronto mortgage with a borrowed down payment can often be no problem. From time to time I meet people who are anxious to buy a home, but do not have the requisite five percent down payment saved up. They are frustrated by being on the sidelines watching everyone else grow their home equity. The solution …

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Seven Steps to Buying Your First Home

Buying your First Home. From pre-approval to closing day. You’ve got this! Buying your first home; knowing where to start, and all the steps in between can be mind-boggling. And since this may be one of your largest life-time purchases, it can get pretty stressful. These seven distilled steps to buying a home help put …

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First Time Home Buyer Government Incentives

First Time Buyers Government Incentives

Home Buyer Government Incentives Every savvy college student knows there are lots of bursaries and scholarships out there – you just have to know where to look. It’s the same with home buyer government incentives. There are some good government programs – especially for first time buyers – that help put money back in your pocket. MUNICIPAL GOVERNMENT …

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Five Common First Time Buyer Mistakes

Buying your first home is exciting and scary all at the same time. It’s terrific there is so much readily accessible information online, but still – there is no substitute for having wisdom and experience in your corner. Do not take that long and wind­ing road to home ownership alone my friends. For one it’s lonesome …

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AskRoss Toronto rental property questions and answers

AskRoss Toronto rental property questions and answers Dear Ross, can I buy an investment property with a small down payment, like say five or ten percent only? No, you are going to need at least a twenty percent down payment if you want to purchase an investment property. Not many of us have that kind …

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Ask Ross Toronto questions and answers

Ask Ross Toronto questions and answers Sometimes readers send in questions we think will be of interest to many people. Here are a couple from the AskRoss mailbag: Dear Ross, with prices so high in the Greater Toronto Area, which  nearby markets do you think have the best balance of affordability and value?  I try to stay …

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Not the time for short closings in the Toronto real estate market

Not the time for short closings in the Toronto real estate market Strange things are happening in the mortgage world the past few weeks. It’s as if all the government and media’s efforts to slow down the real estate industry are finally taking effect. Couple this with the typical annual Spring Real Estate Market, and everything …

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Toronto appraisal too low and led to big time trouble

Toronto appraisal too low and led to big time trouble The AskRoss hotline received a call on the weekend from a first time buyer in major league stress. His unconditional offer to purchase a new home in Brampton was much higher than any prior sales in the neighbourhood. When his application was submitted to the …

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Toronto mortgage with no down payment is no problem

Toronto mortgage with no down payment is no problem It seems the barriers to entry into Toronto real estate ownership keep getting higher and higher. In recent months we have seen government intervention in mortgage lender guidelines; increased default insurance (CMHC, Genworth or Canada Guaranty) premiums, and a white hot market pushing home prices to …

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Private Second Mortgages Have Low Monthly Payments

Private Second Mortgages Have Low Monthly Payments Last week I arranged a private second mortgage for a family living in North York. The interest rate was 9.49% and the loan amount was $40,000. Mrs. Jones called me to ask how come the monthly payment will only be $316.34. This is an excellent question. I am …

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Mortgage Pre Approval Essential in Toronto Market

Mortgage Pre Approval Essential in Toronto Market If you are buying a home in Toronto you need to properly prepare yourself for highly competitive multi offer situations and a confusing array of new mortgage lending guidelines. Toronto home prices continue to rise and with inventory in short supply, home sellers and their real estate agents are …

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