Category: Money Matters

First Time Home Buyer Government Incentives

First Time Buyers Government Incentives

First Time Home Buyer Government Incentives Every smart 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 incentives. There are many good government programs – especially for first time buyers. MUNICIPAL GOVERNMENT ASSISTANCE Down payment assistance:  Some …

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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 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 and …

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Toronto mortgage broker changing peoples’ lives

Toronto mortgage broker changing peoples’ lives It is hard to put into the words the impact of what Ross can do!!!  I am a HUGE sap and many of these clients and their stories fill me with gratitude!! We really are changing peoples’ lives. Here are a couple of examples: Our most recent client is a …

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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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Five reasons the greater Toronto real estate market is different

Five Reasons the Greater Toronto real estate market is different It has become trendy these days to write headlines which promise the end is nigh! It seems daily we read new articles from reputable banks, government bodies and media outlets declaring Toronto real estate is in a bubble. Recently BMO jumped on the bubble bandwagon. Toronto’s …

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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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Private Second Mortgage Solved Big Problems

Private Second Mortgage Solved Big Problems Here in the Greater Toronto Area I arrange private second mortgages on a regular basis. I feel private mortgages can be an excellent tool to solve a specific problem. The most common reasons to have a private second mortgage are: Pay off a consumer proposal early Debt consolidation Reputable …

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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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Lowest mortgage interest rate

“Ring ring” “Hello, Concierge Mortgage Group – how may we be of service today? “Hi I want to know your best five year rate” “Okay sir, no problem. Will that be a hi-ratio mortgage or are you putting down more than 20%?” “Why does that matter? I just want to know your best rate.” “Well …

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