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Posted by: Jim Graszat
When determining the maximum mortgage amount that someone qualifies for, one of the calculations the government and the lender make is the Loan to Value ratio, or “LTV”. How do we determine Loan to Value? This is a very simple calculation, and it is calculated by dividing the mortgage amount by the appraised value of […]
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A Reverse Mortgage is a program that allows retired Canadians, over the age of 55, to stay in place and to live a better life in retirement by improving their monthly cashflow utilizing the built-up equity in their home. This product truly has the ability to change peoples’ lives, allowing them to age in place […]
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December Home Sales Top Off Record Year. Housing Affordability Erodes Further With Record-Low Supply Housing affordability remains a huge political issue and with the Department of Finance working on the upcoming budget, no doubt measures to reduce home prices will be front and center. What we desperately need is dramatic increases in new housing […]
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One of the biggest decisions you need to make when you get a new mortgage is whether you want the interest rate to be fixed or variable. The answer depends a bit upon your financial situation and your disposition. Fixed rate mortgages give some people more peace of mind. You lock in your rate for […]
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Land Transfer Tax (LTT) is a provincial tax charged in Ontario when someone buys a home or condo. In Toronto, there is also a municipal tax, but outside that area, there is one LTT charged by the province. Buyers of houses and condos in Ontario pay land transfer tax when they purchase a property, at the […]
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It may not seem like an obvious career change, but during the pandemic I started to do some soul searching. With my office shut down for 3 months, I looked for learning opportunities that might interest me. I completed both the real estate and mortgage agents courses, in order to get a feel for what […]
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