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First-Time Homebuyer? Read This Guide!

Tuesday May 14th, 2019

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There are several key elements to consider when buying your first home. Some might neglect a few of these and be surprised after signing an Agreement of Purchase and Sale or upon closing. Read on to learn more.   Land transfer tax You must pay a provincial and/or municipal (if in Toronto) land transfer tax when you acquire land. It is calculated based on the purchase price, and will vary depending on which province where the land is. This applies only to resale... [read more]

Buy a home for 5% down. What you need to know.

Sunday Jun 16th, 2019

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Buy a home with only 5% Down? CMHC Any home purchased with less than 20% paid as a downpayment is dinged with mortgage insurance by the Canadian Mortgage and Housing Corporation (CMHC). This protects the bank, not you. This is there for the banks in case you default on your mortgage. Let's be honest. Banks and other lending institutions are handing out mortgages to people who probably shouldn't have qualified for what they were given. There's also a difference here... [read more]

CMHC First Time Home Buyer Incentive Program

Tuesday Jul 9th, 2019

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What The Program Is The Program was announced in March 2019 and aims to make housing more affordable for first-time Buyers in Canada. The Canada Mortgage and Housing  Corporation (CMHC) contributes part of the downpayment in exchange for sharing in the appreciation (or loss) when the home eventually sells. This becomes a shared equity arrangement. For resale homes, CMHC will contribute up to 5% towards the downpayment; for new construction homes and condos, they’ll... [read more]

What you need to know about the Canadian First-Time Home Buyer Incentive

Monday Oct 28th, 2019

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The FTHBI promises to help make real estate more affordable, but there’s a big catch: It’s a loan you have to repay with a share in your home’s growth in value. The federal government launched a new national program on September 2, 2019, that it says will help thousands of families across the country buy their first home. Aptly named the First-Time Home Buyer Incentive (FTHBI), the program offers eligible buyers up to 10% of a home’s purchase price to put toward their... [read more]

CMHC Summer Market Outlook Forecast - Predications of Toronto Market to Recover by 2021 through 2022

Thursday Jul 2nd, 2020

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  Learn how CMHC’s Summer Market Outlook applies to the Toronto Real Estate Market. New home construction, home sales and home prices are expected to all be back up in excellent health by 2022. Thanks for watching! Please SUBSCRIBE and LIKE this video if you gained value from it and learned something new. ———— This expands on CMHC's Spring Market Outlook. CMHC forecasts a decline in 2020 for new homes built. Sales are down by ~81%... [read more]

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