How Much Are My Closing Costs Going To Be?

It is always a shame when you hear about someone having a huge financial surprise on the day of closing. On the day you are making the biggest purchase of your life, many forget to calculate all of the other expenses that are to be paid on closing. These expenses will not be rolled into your mortgage, so be sure …

Announcement from CMHC in Reference to Self-Employed Borrowers

Starting October 1, 2018,  it will be easier for the self-employed to qualify for a mortgage. CMHC just announced it’s giving lenders more guidance and flexibility to help self-employed borrowers. The move is designed to assist self-employed Canadians who may have a harder time qualifying for a mortgage as their incomes may vary or be less predictable. CMHC is providing examples of factors …

Foreign Buyers only 3.4% of Toronto Home Sales

Homeowners in Toronto and Vancouver believe that foreign investors are responsible for driving home prices upwards but there are no official statistics to support this theory. “It has been a misconception among Canadian home owners for a few years that foreign buyers have been the cause of the housing shortage and escalating sale prices. However, statistics are showing that foreign …