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Home building to pick up speed: CMHC

Mar 4, 2010

Blog posted by Cory Kline, AMP Views (8139)

Globe and Mail Update Published on Tuesday, Mar. 02, 2010 9:04AM EST Last updated on Tuesday, Mar. 02, 2010 12:54PM EST   Real Estate: Home building to pick up speed: CMHC Housing starts will strengthen this year and next, and that increase in supply... [ read more ]

Hi I am a self employed individual working in the film industry. I make about $30,000 a year sometimes more. I was wondering if I have saved a huge downpayment, will it be easier for me to get a mortgage. I have saved up $40,000 and my parents are willing to lend me an extra $20,000 and I am looking for a home between $220,000-$280,000

Mar 1, 2010

Expert Question posted by Cory Kline, AMP Views (5958)

I have advised and helped other clients in Barrie, who work in the North American film sector, with obtaining a preferred mortgage offer. I would be happy to get you an approval based on your self employed income. If you could aim for a 20% down payment, we could... [ read more ]

Bank of Canada Urged to Hike Rates After June

Feb 25, 2010

Blog posted by Cory Kline, AMP Views (8801)

  Bank of Canada Urged to Hike Rates After June OTTAWA -- The Bank of Canada should uphold its conditional pledge to keep its key policy rate at 0.25% until July but should then embark on sharp rate hikes of 50 basis points at every announcement date until... [ read more ]

I have been advised to make my offer conditional upon the approval of my lawyer. Is this necessary? If so, what is the fee for this service and how long would it take for you to approve/disapprove from the time I submit it into your office?

Feb 16, 2010

Expert Question posted by Joanne McPhail Views (12451)

Sorry this has taken me so long - I was away on vacation last week!  You may have already proceeded, but yes, it is typical to make an offer conditional upon solicitor's approval - I can usually review and comment on an offer within 1 business day but it's nice... [ read more ]

New Mortgage Rules

Feb 16, 2010

Blog posted by Cory Kline, AMP Views (7731)

  Finance Minister Jim Flaherty announced Tuesday tighter lending standards for mortgages, saying that while the housing market is “healthy” the moves are needed to “help prevent negative trends from developing.” Under the new... [ read more ]

No need for mortgage market structural shift

Feb 5, 2010

Blog posted by Cory Kline, AMP Views (16558)

No need for mortgage market structural shift The head of the Bank of Canada said on Thursday he does not see a housing bubble currently, nor does it see the need for structural change in the country's mortgage market. "The Canadian mortgage market has... [ read more ]

Are Mortgage Rates Heading Lower in February 2010?

Feb 5, 2010

Blog posted by Cory Kline, AMP Views (8192)

Are Mortgage Rates Heading Lower in February 2010? RateSupermarket.ca's panel of financial gurus believe we could possibly see lower fixed mortgage rates and bigger variable rate discounts to prime TORONTO, Feb. 4 /CNW/ - RateSupermarket.ca, Canada's rate... [ read more ]

Warning of Down Payment and Amortization Changes in 2010

Jan 4, 2010

Blog posted by Cory Kline, AMP Views (21188)

Over the holiday season, this article came out and I want to make sure everyone is aware of the possible changes that could effect our mortgage and real estate market. Please see the attached Globe and Mail article from Dec 21st for your review...... [ read more ]

Should I have my lawyer review my offer before accepting? If so, why would it be a good idea? Is there an extra cost for this service? I have heard that it is a wise idea. Thank you.

Dec 20, 2009

Expert Question posted by Joanne McPhail Views (12353)

Hi! It is a good idea to have your lawyer review your offer. There is usually not an additional cost to this, if you are using the lawyer for the transaction, unless he/she is required to get involved with negotiations or major changes to the Agreement. Usually,... [ read more ]

Housing starts hit 2009 high

Dec 8, 2009

Blog posted by Cory Kline, AMP Views (7873)

New housing Construction has hit its highest level this year in November, more proof that Canada's real-estate market has clawed out of recession.  Record low interest rates are fuelling a rebound in Canada's real-estate market, spurring rising... [ read more ]

2010 Outlook on Barrie & Prime Rate

Dec 4, 2009

Blog posted by Cory Kline, AMP Views (10146)

I have just finished reviewing the below 2 timely articles, and would like to share the main points with everyone.  If you would like full copies of the articles, please email me at cory@ndlc.ca ReMax 2010 Outlook Report.... ( Barrie Recap on Pages 13 and 14... [ read more ]

Why is it important not to focus solely on mortgage rates, when choosing a mortgage?

Nov 26, 2009

Expert Question posted by Cory Kline, AMP Views (5885)

Reason #1 Your long-term plan and risk tolerance should determine which mortgage product is right for you. This product may or may not have the lowest rate. For instance, there are cases where lenders will offer lower rates for insured mortgages. With insured... [ read more ]

Why is it important not to focus solely on mortgage rates, when choosing a mortgage?

Nov 20, 2009

Expert Question posted by Cory Kline, AMP Views (5778)

Reason #1 Your long-term plan and risk tolerance should determine which mortgage product is right for you. This product may or may not have the lowest rate. For instance, there are cases where lenders will offer lower rates for insured mortgages. With insured... [ read more ]

Why is verifying my Down Payment important?

Sep 30, 2009

Expert Question posted by Cory Kline, AMP Views (5667)

If there is ‘one’ thing that causes problems that can delay the closing of your house it’s verification of the Down Payment. Here’s why: To meet the Requirements of CMHC or GE, On or before the issuance of a lending commitment you... [ read more ]

What information is required to be Preapproved for a Mortgage?

Sep 30, 2009

Expert Question posted by Cory Kline, AMP Views (5683)

If you are applying to be preapproved for a mortgage, you should start to gather: A letter of employment: Have your employer give you a letter on company letterhead outlining your name, position, gross annual income, and number of years employed with the... [ read more ]


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