The real estate market is more active and more competitive than any time in history. The results? Pure chaos.
It used to be normal for people to insert a few conditions when making an offer to purchase a home. The standard conditions used to be along the lines of obtaining satisfactory financing within 5 to 10 business days and obtaining a satisfactory home inspection. The lender would go through an in depth underwriting process, then verify income, down payment, credit, and finally the property would get reviewed and appraised to ensure it meets the lender’s criteria and lending value.
Continue reading “No Conditions with an Offer… Is This the New Normal?”
It happens to many of us from time to time. Either we need to build our credit, or even rebuild it. Well, the good news is there is a card on the market that can help you do just that.
With this card, you put a deposit down to secure a line of financing from Visa. This is ideal for those who need to rebuild credit, perhaps to switch to a new mortgage deal or to get a mortgage in the first place. The card works just like a credit card and can help raise your credit rating as long as your monthly payment is made on time. You can see what all this card entails and apply for it here.
Continue reading “How to build credit with a Home Trust Secured Visa card”
This week even more good news was announced by the Bank of Canada. A press release stated that the overnight rate will stay the same for the time being. This is great news for those with variable rate mortgages.
Only weeks ago, many were speculating on a micro-decrease but that didn’t happen. Now, we saw the media at it again. They were forecasting for a possible Bank of Canada rate increase. Well, this should shut them up.
Continue reading “Bank of Canada will keep its target rate as-is: Good news for those in a variable rate”
So many pessimistic reporters here have been telling Canadians it’s better to rent than own. Well, those people have been really quiet over the past few years given that rents have really taken off and housing prices have skyrocketed, leaving those that had purchased in a great equity position.Those that listened to the media “experts” have nothing to show except for record high rents and landlords that want to evict them because market rents have gone up by about 30% over the past 5 yrs.
Continue reading “Is it cheaper to rent or buy?”
It is about time for some good news to be shared regarding the housing market and the mortgage industry. Luckily, one bank has stepped in to help make that happen. The bank has launched a new program that aims to help Canadians with financing a home. Great, right? I sure think so.
Let’s look at some of the highlights the program has to offer.