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 imagesCA4U3MDZWhether it’s your first time or your fifth time, shopping for a mortgage can often be confusing and even frustrating. Besides, who really has the time to research and compare mortgage lenders to ensure the best deal? Then there are all those crazy terms and acronyms — beacon scores, LTVs, IRDs and porting – it can make your head spin! Isn’t there an easier way?

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52745213093201961Home Inspections for Sellers.???

"The buyer has the upper hand when they have an inspection," says Coldwell Banker consumer specialist and agent Jessica Edwards. "If you are willing to do it ahead of time, you give the control back to the seller."

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ge2Schools, Crime Rate, Your Neighbours, and even your Habbits can affect your resale value...

There are definitely things that will lower the value of your home, other things which will limit your ability to increase value and some things which are essentially a non-issue for re-sale value. The trick is learning which is which.

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Purchasing a home is a major accomplishment, but paying off your mortgage as early as possible will be the best investment you can make. A 2010 Canada Mortgage and Housing Corporation (CMHC) survey indicated that 68 per cent of recent homeowners felt there was a strong chance they could pay off their mortgage earlier than their current amortization schedule, and 27 per cent have either made additional lump sum mortgage payments or have increased their regular payment amounts. 

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money-pitIf you are in the market to purchase your first home or relocate to a new home, it's easy to get caught up in the home-buying process and forget some of the details. The clock is ticking, your landlord has issued you notice or your house has received an offer... it's time to move. You've found the perfect home on the perfect street... nothing left to do but put in an offer right? WRONG!

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billsIf you were asked today to explain what reports to your credit bureau and how it affects you, could you? Money is one thing that we cannot survive a day without – our needs and goals are driven by it. Unfortunately, it’s also the one subject that isn’t taught in school. Children learn how to cook, how to make vases in wood shop, how to change the oil in a car... but they don’t learn about finances. There’s no budget planning, no education on maintaining good credit... and yet cash rules everything around us.

How well you manage your finances is tracked through credit reporting companies such as Equifax and TransUnion. Your credit score is a judgment about your financial health, at a specific point in time.

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1. If I have mortgage default insurance do I also need mortgage life insurance? 

Mortgage life insurance is optional. Mortgage life insurance is a life insurance policy on a homeowner, which will allow your family or dependents to pay off the mortgage on the home should something tragic happen to you. Mortgage default insurance is something lenders require you to purchase to cover their own assets if you have less than a 20% down payment. Mortgage life insurance is meant to protect the family of a homeowner and not the mortgage lender itself.

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blog - more than rateblog - more than rates

In recent history we've seen some of the major banks offering clients extraordinarily low rates.

(2.94% for a 5 year fixed rate is the lowest rate special that our office saw)

But there is more to a mortgage than just the rate...

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blog - tdsDo you know what percentage of your pay cheque goes towards household expenses and consumer debts? Your total debt servicing ratio (TDS) is a calculation that financial lenders use as a rule of thumb to give a preliminary assessment of whether or not a borrower can handle their existing debt or additional debt. More specifically, your TDS shows the percentage of gross income (income before tax deductions) that is being spent on household expenses (mortgage payment, property tax, heat) and consumer debts (use the minimum payment required). In today's economy lenders will only consider borrowers who do not exceed a TDS of 44% (in some cases lenders will allow a maximum of 50% TDS).

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rent-v-buyAt some point in their lives, most Canadians have probably asked themselves whether it is better to buy or rent a home. And purchasing a home is one of the biggest decisions most people ever make.

Ultimately, the decision is a personal choice, but it helps to look at the pros and cons of buying to determine whether home ownership is right for you.

 

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