| Recent Blog Posts by Szabolcs Pall | ||
30 Year AmortizationDid you know … as of March 18th 2011, you will no longer be able to take out a mortgage with an amortization period of more than 30 years. The change was implemented as a preventive measure to ensure people aren't over extending themselves. Some banks are taking advantage of this to offer incentives for would be home purchasers before the deadline, so take advantage now!
ready2move.ca ...
Posted by Szabolcs Pall
on March 17, 2011
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How to buy a home with 0% downDid you know that you can still get financing for up to 100% of your home? There is no getting around the 5% down payment required by CMHC, but some lenders will give you the 5% down payment if you are willing to take on a higher interest rate.
Don't forget though, that for non-owner occupied or investment properties, you now need a 20% down payment as part of the new mortgage rule ...
Posted by Szabolcs Pall
on March 2, 2010
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Why change the mortgage rules?
Image: Danilo Rizzuti / FreeDigitalPhotos.net
How do you characterize our current real estate market? Lots of buyers, not enough homes. Homes are selling at over and above the asking price as demand pushes excited home buyers, nervous at the thought of losing out on a home, to bid full asking price sometimes without conditions. While active listings are down from last year, we are already ...
Posted by Szabolcs Pall
on March 2, 2010
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Home Renovation Tax CreditWhat is HRTC? It's the Home Renovation Tax Credit that was proposed in the January 27th Federal Budget, that will provide for a 15% income tax credit on eligible home renovation expenditures, and is family based. Good between January 27th 2009 and February 1st 2010, it can be claimed for the 2009 taxation year on expenditures greater than $1,000, but no more than $10,000 and can provide ...
Posted by Szabolcs Pall
on April 10, 2009
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What, me worry?Finance Minister Jim Flaherty has recently said, that panicking in the face of this global economic crisis could prove tragic for Canada's own economy. I think it should also be stated, that some of the frightning headlines we are seeing in the news today, have been kicking around for about a year now. And even longer in the U.S and the U.K. So while the financial bailout of the U.S. ...
Posted by Szabolcs Pall
on December 12, 2008
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