It might seem counter-intuitive, but buying a home in winter – from house-hunting, to getting all your worldly belongings from point A to point B – can actually be easier, cheaper and more convenient than any other time of the year. Here’s why the colder, darker months of the year could actually be a bright spot for homebuyers.
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Here are a few common reasons why a house is not selling, and how to help turn that “For Sale” sign to “Sold!”
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Home buying is an exciting but sometimes complex process. Learn all the ways a REALTOR® can help you succeed with the most important purchase of your life. Once you’ve decided you’re ready to buy, a REALTOR® can guide you through the entire process and from start to finish.
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A mortgage pre-approval is an important first step in the home-buying process. Having a pre-approval in hand tells you how much you can spend on a home, and it locks in the current low interest rate for up to 120 days, so you can shop the market knowing you’re insulated from rate hikes in the near future. If the rate drops, your lender should honor the new lower mortgage rate when you’re ready to make your purchase.
The amount that a financial institution is willing to lend for a mortgage depends on a number of factors. Your lender will check your financial standing to determine how much you can borrow, how much you can afford, and which loans might be best-suited to your specific circumstances. Applying for a mortgage requires a written application and supporting documentation, and it can be a slightly intimidating process. Here are three things lenders will want to know before giving you a mortgage pre-approval.
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High Ratio Mortgage Rules
Canadian real estate has been a tough nut to crack for some homebuyers, and those with less than 20 per cent as a down payment now face another challenge, with Canada Mortgage and Housing Corp. (CMHC) announcing tighter qualification rules for borrowers of high-ratio mortgages. The move was in response to the economic vulnerabilities sparked by global pandemic. The changes, which include lower debt thresholds and higher credit ratings, came into effect on July 1, 2020. If you’re in the market to buy a home but have less than 20 per cent as a down payment, here’s what you should know.
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The National Association of REALTORS® has dedicated September as REALTOR® Safety Month. In honor of all RE/MAX agents and Realtors® everywhere, stay safe!
🍃CMHC GREEN HOME COURSE🍃
Sending a BIG thank you to Marina O’Flaherty – Mobile BMO Mortgage Specialist, Terrlynn Sullivan of BMO, Gerry Locke of AmeriSpec Inspection Services of Newfoundland and Michelle Handrigan of Canada Mortgage and Housing Corporation (CMHC) for sharing their knowledge with our agents!
If you want to know if you qualify for a premium Green Home 💵 r e f u n d 💵 message us here or call 579-0909
📚📝Legal Tips & Traps – Continuing Education📝📚
We may be busy selling houses, but our REALTORS® are never too busy to expand on their knowledge!
Huge thank you to subject matter expert, Pádraig Mohan Lawyer, for sharing his legal expertise with Infinity and our Broker/Co-Owner Teri-Lynn Jones for inspiring a culture that fosters success.
To the moon!