LEGO My House: How Many LEGOs Would It Take to Build Your House?

LEGO My House: How Many LEGOs Would It Take to Build Your House?

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Want to buy a house in 2013?

Want to buy a house in 2013?

In spite of popular belief, buying a house in today’s real estate market is NOT a difficult task. Post the real estate melt down, consumers could have money and bad credit or good credit and no money, and still qualify for a mortgage. NOT TODAY!! Today, you MUST be prepared to buy a house. Unlike the mortgage industry of yesterday, you can’t just “flare-up” and decide to buy a house on the spot and actually get it. Today, you have to PLAN for it!

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TD Bank to Goverment of Canada

TD Bank to Goverment of Canada

TD Bank to Government of Canada !
**Raise Minimum Down Payment For Home Buyers.
**CMHC’s flex down program.
**Actions to constrain lending growth may be prudent.
**Shortening the maximum amortization to 25 years from 30.

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Big 5 Banks Drop Mortgage Rates

Big 5 Banks Drop Mortgage Rates

Source: Hannif Highclass Publish:MY BLOG: Toronto Real Estate: March 9, 2012 Big 5 Banks Drop Rates To Record Lows In Apparent Mortgage War All five of Canada’s major banks are now engaged in a war for home buyers that will likely alarm policy makers concerned about Canada’s record levels of household debt. But what may […]

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House Prices: Survey

House Prices: Survey

Where They Will Be in the Spring Canadian home sales pick up in September Source: Hannif Highclass Publish:MY BLOG: Toronto Real Estate: Oct 19, 2011 what you should expect Many sellers want to wait until the spring before putting their home on the market. This might be for any of several reasons: They don’t want […]

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What Are Closing Costs?

What Are Closing Costs?

Buying a House: In addition to the down payment, you’ll also have to pay closing costs — miscellaneous fees charged by those involved with the home sale (such as your lender for processing the loan, the title company for handling the paperwork, a surveyor, local government offices for recording the deed, etc.).

According to CMHC and GE Capital, one should have, in addition to the down payment, at least 1.5% of the purchase price for closing costs (we say 2-2.5%, just to be on the safe side).

Depending on the type of property and the nature of your deal these may include but are not limited to the items described below.

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Is Buying a Home Right For You?

Is Buying a Home Right For You?

Is Buying a Home Right For You? Should You Buy or Rent? FAQ complete with Home Buyers Guide from CMHC and a Work Sheet.
The advantages of owning or renting are different for everyone, so be sure to consider important personal situations and long-term goals before making your decision. This is a decision which many people face, and the decision is not as easy to make as it may sound.

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Housing starts climb 4.3% in July

Housing starts climb 4.3% in July

Canadian Mortgage & Housing Corp CMHC REPORT! Source: Toronto— Reuters Published: Tuesday, Aug. 09, 2011 9:23AM EDT Canadian housing starts unexpectedly climbed 4.3 per cent in July, data showed Tuesday, setting the third quarter off to a strong start in new home construction and maintaining its role as a key support to the economy. Starts, […]

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TREB Market Watch July 2011

TREB Market Watch July 2011

July Sales and Average Price Up Compared to 2010 Toronto Source: TREB August 4, 2011 — Greater Toronto REALTORS® reported 7,922 transactions through the TorontoMLS® system in July 2011, representing a 23 per cent increase over July 2010. Total sales through the first seven months of this year amounted to 55,863 – down by 1.3 […]

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Should I Break My Fixed Rate Mortgage?

Should I Break My Fixed Rate Mortgage?

If you have a closed mortgage at a fixed rate, and you want to get out early, be prepared to pay a high penalty. The cost may be many thousands of dollars. Most mortgages have a clause that says premature cancellation requires paying three months’ interest or an interest rate differential (IRD), whichever is greater. […]

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