Category: Money Matters

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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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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