Home sales across Canada spiked by 11.3% in April compared with the previous month as activity in the housing market continued to gather pace. While April sales were 19.5% lower than the same month last year, CREA noted that the yearly decline was much less pronounced than in previous months – a sign that the [...]
10 Mistakes to Avoid in Rent-to-Own For most people, a home is the largest purchase they’ll ever make, so choosing the wrong property can have disastrous implications for their wallets and well-being. Still, many homeowners feel a strong sense of pride in putting their mark on the property, building equity and having a place to [...]
Wondering how the rate increases (and subsequent stress test increase) would impact your ability to qualify for a mortgage? Suppose your household income is $120,000, you have good credit and you want to buy a condo in a major urban centre. Let’s say the property taxes are $2,400 and the condo maintenance/strata fees are $360 [...]
Have you recently been declined for a mortgage because you have credit challenges, carrying some debt or dont have the required down payment? Homeownership could still be a reality with some creative planning and resourcefulness Understanding the qualification process is the key to finding a way to make it work. The mortgage amount a buyer [...]
Canadian home prices are on the rise with a near 20% projected increase by the end of December, according to the Canadian Real Estate Association’s (CREA) most recent report As home sales across the country saw a slight drop in August, falling 0.5% compared to July, prices continued to rise, bringing the average Canadian home [...]
