Wednesday, September 25, 2024 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
Trinity Real Estate Consultants
647-697-6743
matthewdanieltamburello@gmail.com
Congratulations, you have decided to take a big step and invest in real estate in Canada! Deciding to buy a home, no matter where you are looking to purchase a home, whether that’s your hometown or somewhere new is always a big decision. It can be a complex process with a lot of moving parts and many things that you will need to consider.
Hopefully, after reading this guide you will have gained greater insight into what it is like to buy real estate in Canada, what you can expect when purchasing and investing in real estate in Canada, what the process is like for buying real estate here, and more. It is important to remember that this guide is meant to serve as a jumping-off point for the process of buying real estate in Canada, this is not meant to be a definitive guide on buying real estate in Canada.
It is meant to help you begi. ...
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Wednesday, August 21, 2024 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
Trinity Real Estate Consultants
647-697-6743
matthewdanieltamburello@gmail.com
Buying a home or property is an exciting process no matter whether you are buying your first home or your third home. However, getting a mortgage even if you have an amazing credit history and score, have saved up sufficient funds for a down payment, closing costs, and more, getting a mortgage is still a process that will take time, paperwork and bureaucracy.
In other words, it’s time to prepare yourself for the fact that you can apply to be pre-approved or prequalified for a mortgage or for a mortgage but it is not something that is immediate. If you were thinking that you have all of the paperwork ready, all of the funds saved up, excellent credit, etc. that you could get approved instantaneously if only financial processes were so efficient and painless.
How long it will take for your mortgage application to process depends on y. ...
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Wednesday, March 13, 2024 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
Trinity Real Estate Consultants
647-697-6743
matthewdanieltamburello@gmail.com
Despite more than two million people in Canada with second mortgages, not many fully understand how second mortgages work. This article aims to answer the reasons people get them, and how to obtain them. We’ll also help you learn the advantages and disadvantages of second mortgages, and hopefully, provide information to help you make an informed financial decision.
What is a second mortgage?
The first loan taken by homeowners to purchase a house is called a primary mortgage. A second loan acquired for the same property is called a second mortgage.
A second mortgage is granted even when the primary mortgage has yet to be fully paid. The loanable amount from the second mortgage is based on the equity of the house bought through the primary mortgage. Equity is the value of your home minus any mortgage debt and liens. Equity is . ...
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Monday, July 24, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
Trinity Real Estate Consultants
647-697-6743
matthewdanieltamburello@gmail.com
Central bank has raised policy rate 7 times this year in battle against inflation
The Bank of Canada raised its benchmark interest rate by 50 basis points on Wednesday, to 4.25 per cent.
This hike was expected, as Canada’s central bank has raised its rate seven times this year in its fight to quell inflation. These increases have had a huge impact on the rates that Canadian consumers and businesses get from their banks on things like mortgages.
Many are hoping this is the last of the increases, with the Bank not definitively indicating one way or another is the rate will have to go higher in order to bring supply and demand back into balance and return inflation to target.
“Looking ahead, Governing Council will be considering whether the policy interest rate needs to rise further to bring supply and demand back into balance. ...
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Monday, April 3, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
This week, Deputy Prime Minister and Minister of Finance tabled the second budget of the 44th parliamentary session, “A Made-in-Canada Plan”. This budget is heavily focused on measures to address the cost-of-living crisis, provide inflation relief, invest in public health care, and build Canada’s clean economy.
The budget followed an announcement of amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act, on Monday, March 27. The Canadian Real Estate Association (CREA) has been actively lobbying for changes to the prohibition since it was announced.
The announced amendments include:
Enable more work permit holders to purchase a home to live in while working in Canada. Amending the exception for temporary workers to enable work permit holders with 183 days or more of validity remaining on their work permit or work! ...
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