Is there a light at the end of tunnel? For homeowners, possibly - for homebuyers, maybe now is when the light is shining where the market is slow and it has slowly become a buyers market. CIBC deputy chief economist Benjamin Tal said that while we are very close to the end of Bank of [...]
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 homeowners are effectively paying significantly less per month than renters, a new study from Royal Le Page says. The study, which sought out to answer the age old question of “is it better to rent or buy?” analyzed price data from across the country. It found that although homeowners are often paying much more [...]
