CENTURY 21 Leading Edge Realty Inc., Brokerage*
- 300-801 York Mills Road
Toronto, ON M3B 1X7
Welcome to my Website
As a CENTURY 21® Real Estate professional, I am dedicated to providing you with the highest quality service possible. My personal knowledge of the local Real Estate market is combined with the power of the CENTURY 21 brand - the most recognized name in Real Estate today.
Let me assist you in finding your dream home, in a neighbourhood that is right for you, and in the price range you want. Or if you are interested in selling a property, I also have the expertise to help you get the fastest sale possible and at the best price.
I look forward to the opportunity of working for you!
Visit me at KenTran.ca
Hi my name is Ken Tran, I have been working in the Real Estate industry for more than 15 years. I specialize in resell in residential and condominiums as well as pre-construction new condominiums. I service for a wide range of multi-cultural communities in the GTA. I grew up in Vietnam and was raised in many different countries like China, Hong Kong and Canada. I am fluent in English, Cantonese, Mandarin and Vietnamese.
I am also a certified Mortgage Broker who have worked with Mortgage Alliance for three years. I helped clients qualify for their loans for first-time home buyers as well as re-financing.
During my spare time, I like to indulge in:
- Attend church with family and friends
Mortgage Terms To Know
The time over which all regular payments would pay off the mortgage. This is usually up to 25 years for a new mortgage.
The process of determining the value of property, usually for lending purposes. This value may or may not be the same as the purchase price of the home.
A type of financing arrangement in which the outstanding mortgage and its terms can be transfered from the current owner to a buyer. By assuming the previous owner's remaining debt, the buyer can avoid having to obtain his or her own mortgage.
Payments consisting of both a principal and an interest component, paid on a regular basis (e.g. weekly, biweekly, monthly) during the term of the mortgage. The principal portion of payment increases, while the interest portion decreases over the term of the mortgage, but the total regular payment usually does not change.
Canadian Mortgage and Housing Corporation - CMHC
A division of the Government of Canada that acts as Canada's national housing agency. The CMHC's mandate is to help Canadians access a variety of affordable housing options. It also researches housing and real estate trends in Canada and around the world, providing research to consumers, businesses and other government divisions. The major activity of the CMHC, and the one for which it is best known, is mortgage loan insurance, which insures approved lenders (such as Canada's chartered banks) against borrower default. Mortgage loan insurance provides approved borrowers access to low-cost mortgage rates. CMHC approved buyers may purchase property with as little as 5% down payment.
Certificate of Search or Abstract of Title
A document setting out instruments registered against the title to the property, e.g. deed, mortgages, etc.
A mortgage agreement that cannot be prepaid, renegotiated or refinanced before maturity, except according to its terms.
Properties or assets that are offered to secure a loan or other credit. Collateral becomes subject to seizure on default.
A mortgage that does not exceed 80% of the purchase price of the home. Mortgages that exceed this limit must be insured against default, and are referred to as high-ratio mortgages.
The percentage of the borrower's gross income that will be used for monthly payments of principal, interest, taxes, heating costs and condominium fees.
High Ratio Mortgage
If you don't have 20% of the lesser of the purchase price or appraised value of the property, your mortgage must be insured against payment default by a Mortgage Insurer, such as CMHC. And the availability of government-backed mortgage insurance is restricted to homes with a value of $1 million or less.