Mortgage Rules to Change Again—will it again add to the confusion?
This is the second round of changes to mortgage rules since the spring of 2010. Though probably prudent, will it again cause some confusion among consumers as before?
This time the Government has announced 3 additional changes to mortgage rules for government insured mortgages. They are:
1. A reduction in the ...
Posted by Allan Lent
on February 9, 2011
Over half of Ontarians confused about HST and resale homes A full 56 percent of Ontarians mistakenly believe that the new Harmonized Sales Tax (HST) applies to the full purchase price of a resale home, according to an Ipsos Reid survey commissioned by the Ontario Real Estate Association (OREA).
“We see it on the front lines every day. Clearly, Ontarians still don’t know what the HST covers ...
Posted by Allan Lent
on December 1, 2010
Today people move every 7 years on average. And a great many, for one reason or another, sell much sooner.
To more likely achieve a good financial return, and a larger downpayment on the next purchase, a good selling strategy is to keep a home for at least 5 years, if possible.
In spite of the market’s recent struggles, the average sale price in our region has appreciated by about ...
Posted by Allan Lent
on May 7, 2010
New Rules still allow 5% Down to Buy a Home
Mortgage Changes and Clarification
To clarify any confusion, YES you can still buy a home with a 5% downpayment; this has not changed. As well, lenders continue to offer the 5% cash-back option.
The 3 New Rules to Insured Mortgages follow:
90% Maximum Refinancing Prior to the modifications, you could refinance and withdraw up to a maximum of ...
Posted by Allan Lent
on May 7, 2010
While the current news about the housing market is full of doom and gloom the Niagara Region remains strong. The most important thing to remember is that your Agent has a responsibility to guide your investment forward in a changing market by providing key information relative to your strategies,needs and wants.
Posted by Allan Lent
on February 19, 2010