FAQs Mohamed Mahmoud 25 Feb
When you purchase a property, whether a single family home, condo or cottage, you buy the title.
The registration of that title confirms that you’re the rightful owner.
Most transactions include a lender’s title insurance policy which protects the loan and helps the deal close faster, but only an owner’s policy will offer you protection against title fraud, survey and title issues, or even pre-existing defects.
General Mohamed Mahmoud 24 Feb
Download My Mortgage Toolbox App and find out how much you qualify for.
Plus many more features to help you on your journey!
https://www.dlcapp.ca/app/mohamed-mahmoud?lang=en
First Time Home Buyer Mohamed Mahmoud 23 Feb
One important note to keep in mind if you’re buying a condo apartment or townhouse.
Always make sure to review the strata certificate before putting an offer. This will show details pertaining to maintenance fees, active law suits, reserve funds, and any assessments.
Most lenders will not lend on buildings with active lawsuits, especially if the reserve funds and insurance don’t cover the amount.
Keep this in mind if you’re on the market for a condo
Feel free to reach out for more details
647 901-7948
info@modomortgages.ca
Mortgage Tips Mohamed Mahmoud 22 Feb
How long would it take for you to shop 90 stores to find the perfect couch?
Now ask that same question about your Mortgage.
Did you know?
A typical Mortgage Broker has access to over 90 lenders! This can be a real advantage to ensuring you, the client, receives the best Mortgage plan and rate to suit your needs!
FAQs Mohamed Mahmoud 18 Feb
Yes, you can! It’s important to know t hat you need to submit additional documentation when self employed, such as two years notice of assessment, two years of T1 Generals and proof of being in business for yourself for two years (business license etc.).
Market Trends Mohamed Mahmoud 17 Feb
Short answer:
1) Significant number of Canadians locking from variable into fixed rates out of fear rather than doing the actual math
2) Banks report record earnings as the result of the previous point
3) A ”Net” zero increase in prime rate (relating to variable rates) by year end. Might go up and then back down
4) The few remaining banks outside of the channel come into the broker channel or working towards it by year end.
5) 2020 Broker share will exceed 40% of market share
6) 35% down payment on investment residential properties
7) By 2026, Canada’s population will have increased by 4 Million
Long version:
Watch the video
First Time Home Buyer Mohamed Mahmoud 9 Feb
Keep your credit score healthy by keeping credit cards as low as possible, paying bills on time and keeping your current credit cards open.
Mortgage Tips Mohamed Mahmoud 8 Feb
If you’re self employed, that doesn’t mean you need to pay higher taxes to qualify for a Mortgage
There are special products for self employed that can save you more towards your bottom line.
Ask me how
647 901-7948
info@modomortgages.ca
FAQs Mohamed Mahmoud 4 Feb
Yes! You will need to make arrangements for a lawyer or notary to draw up the Mortgage documents for you to sign before closing.
They will oversea the real estate transactions and advise on legal matters accordingly.
First Time Home Buyer Mohamed Mahmoud 3 Feb
Now that you have finished signing your mortgage paperwork and getting the keys to your first home, there are a few things to keep in mind after you buy to protect your investment and ensure future financial success!
1) Maintaining your home and protecting your investment.
2) Make your mortgage payments on time
3) Plan for the costs of operating a home
4) Live within your budget
5) Save for emergencies
