FAQs Mohamed Mahmoud 17 Sep
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 transaction close faster, but only an owner’s policy will offer you protection […]
Read MoreMortgage Topics Mohamed Mahmoud 15 Sep
SOURCES OF DOWN PAYMENT The down payment on your home could come from your own savings such as a savings account or RRSPs. Thanks to the federal government’s Home Buyers’ Plan, potential first-time home owners are able to leverage up to $35,000 of your RRSP savings ($70,000 for a couple) to help finance the down […]
Read MoreMortgage Tips Mohamed Mahmoud 14 Sep
Don’t be house rich and cash poor. We live in a beautiful country so use your budget to ensure you have means to enjoy Canada after your mortgage is paid monthly. The general rule of thumb is to allow approximately 32% of your household monthly income before deductions to cover your monthly mortgage payment (including […]
Read MoreLatest News Mohamed Mahmoud 9 Sep
The Bank of Canada yesterday announced that it will make no change to the key overnight rate at 0.25%. Today’s announcement is largely a continuation of the same themes that the Bank has been talking about for months. They remain committed to keeping rates low until the second half of 2022 and continue to monitor […]
Read MoreGeneral Mohamed Mahmoud 8 Sep
Before you jump on in, there are some things you should ask yourself. As amazing as it is to be a first-time home buyer, it is important to remember that this is likely the largest financial decision you will ever make. There are a few questions you can ask yourself to make sure you’re ready […]
Read MoreMortgage Tips Mohamed Mahmoud 7 Sep
Did you know? A great credit score includes keeping a balance on credit cards at any given time that is below 30 percent of the total card limit – and paying it off monthly.
Read MoreFAQs Mohamed Mahmoud 3 Sep
Yes! You will need to make arrangements for a lawyer or notary to draw up the Mortgage documents for you to sign. If you don’t have a legal professional, I can recommend someone.
Read MoreMortgage Topics Mohamed Mahmoud 2 Sep
Your down payment is the amount of money you need to put down on your new home. Once you have determined your budget, you will have an accurate idea of the final cost of the home you can afford and what you will be intending to spend. This will allow you to estimate your down […]
Read MoreDr. Sherry Cooper Mohamed Mahmoud 1 Sep
The surprising weakness in the Q2 Canadian economy reflected weaker home sales and exports. Housing Dampened Economy in Q2 This morning’s Stats Canada release showed that the economy unexpectedly contracted in the second quarter by 1.1%, down from the revised 5.5% gain in the first three months of the year. The Canadian dollar dipped on […]
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