Posts tagged mortgage
Steps to buying a condo

Are you thinking about buying a condo? Do you understand the steps involved? While purchasing a condominium doesn't have to be difficult, new buyers often feel overwhelmed by the choices they have available. From making a budget and saving for a deposit through to comparing buildings and mortgage providers, let's take a look at the individual steps you need to take to become a new condo owner.

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Credit score for buying a condo - what should you have?

Lenders take a lot of things into account when they decide whether or not to issue you with a mortgage, and nothing is more important than your credit score. While your deposit amount, income, and debt levels also come into play, your credit scores and history have a huge effect on your overall eligibility along with the interest rates available to you.

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How to get a mortgage in Canada: a complete guide

Whether it's an inner-city condo in Toronto or a rural property up north, most people in Canada would love to own their own home. Among other things, buying real estate is a great way to provide safety for your family, improve your quality of life, and secure your financial future. However, while owning a home is a great achievement that deserves to be celebrated, the process of buying a home can be complex and fraught with danger.

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Buying a home in Canada: a complete guide

Buying a home is one of the biggest decisions you’ll ever make, so it’s important to get it right. While so many people muddle their way through this process, you can save time, money, and stress if you do your homework first. From the early stages of setting a budget and researching your mortgage options through to house hunting and negotiation - let’s take a look at all of the steps you’ll need to take when buying a home in Canada.

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Understanding how mortgage rates work

Mortgage interest rates are calculated by banks and other lenders in accordance with central bank rates and competitive conditions. In the United States, the Federal Reserve is given the responsibility of setting rates in order to maintain economic stability. The situation in Canada is similar, with the Bank of Canada (BoC) setting the prime interest rate in order to meet its monetary policy objectives.

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Working with a Canadian bank when buying real estate

Here in Canada, many people partner with banks and financial institutions to make investments in real estate. Whether you are purchasing a home to flip for a profit or you want to buy a vacation property as a foreign buyer, it’s important that you know exactly what to expect from a Canadian bank and the various rules and regulations that may apply.

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