Blogs Posts on "Toronto Mortgage Information"

Mortgage fraud may be out of the headlines, but watch out! by Central Toronto Real Estate Blog on Nov 12, 2009Mortgage fraud seemed rampant just a few years ago but much less lately having since died off after consumer awareness and systematic changes have made the crime more difficult. Down from an average five per month a couple of years ago, only 18 new i...

Mortgage Payments: What Can You Afford? by Central Toronto Real Estate Blog on Nov 6, 2009By Evan Sage The first rule of affordability is that on a monthly basis you should not pay more than 32% of your gross household income on housing costs or P.I.T.H. (principal and interest, taxes, and heating expenses). These costs will also contain...

The Perils of Trusting the Wrong Mortgage Representative by Central Toronto Real Estate Blog on Oct 30, 2009By: Parmida Modiri, AMP It has been nearly five months since Heidi & Kevin went through many unfortunate events that concluded the following losses:  Their dream home, their $5,000 deposit and the ability to trust anyone!!! Today they finally fe...

Six Things to Know About the First Time Homebuyer’s Tax Credit by Central Toronto Real Estate Blog on Oct 15, 2009By Parmida Modiri, AMP 1. What Is It? The First Time Homebuyer’s Tax Credit is another initiative started by the Canadian Government in 2009 to allow first time homebuyers a small tax relief in order to deal with the expenses associated with owning...

Mortgage Payments: What Can You Afford? by Central Toronto Real Estate Blog on Oct 14, 2009By Evan Sage The first rule of affordability is that on a monthly basis you should not pay more than 32% of your gross household income on housing costs or P.I.T.H. (principal and interest, taxes, and heating expenses). These costs will also contain...

Toronto Home Buyer: Mortgage Basics by Central Toronto Real Estate Blog on Oct 7, 2009By Evan Sage Mortgage Financing – Why is Now a Good Time? The early bird catches the worm, and prime real estate at a better price! Starting early to secure a mortgage is an essential part of the buying process. Pre-approval puts you ahead of the g...

New to Canada Mortgage Program by Central Toronto Real Estate Blog on Oct 3, 2009By Parmida Modiri, AMP Now qualified homebuyers who have immigrated or relocated to Canada can qualify for Genworth default mortgage insurance with as little as a 5% down payment. 65% Loan to Value (35% down payment): Valid work permit or verificat...

Renovate and Save: Home Renovation Tax Credit by Central Toronto Real Estate Blog on Sep 29, 2009By Parmida Modiri, AMP Due to the recession that has hit the Canadian economy within the last little while, homeowners are looking to hold on to current financial investments, including properties, until the market can fully recover. How Does The Gov...

Benefits of Pre-Authorized Tax Payment Plan by Central Toronto Real Estate Blog on Sep 15, 2009By Parmida Modiri, AMP On top of monthly mortgage payments, household bills, closing closings with the purchase of a new home and maybe even renovation costs – paying property tax is the last thing anyone would want to do. Cities are now offering...

Mortgage Life Insurance FAQs by Central Toronto Real Estate Blog on Sep 11, 2009By Parmida Modiri, AMP You go to sign the papers for your mortgage, and your mortgage professional shows you a form for mortgage life insurance. Although not many people understand what it is, it is an important document to decide if you need. Your m...