FREQUENTLY ASKED QUESTIONS
What does the new mortgage stress test mean?
As for the effects, it depends on your housing market! Click here to find out how the new rules are expected to impact housing markets from coast to coast.
Does I higher credit score mean a better mortgage rate?
If you have a poor rating, do some damage control before you apply for your mortgage. For more information, read this.
What should I look for in a lucrative investment property?
Vancouver-based real estate research and consulting firm Cutting Edge Research Inc. identified these factors for a solid investment property. Is the area experience population, income and employment growth? Will the area benefit from an economic or real estate ripple effect? Can the local infrastructure support the expected growth? Are there any major transportation improvements in the works? Is the area attractive to Baby Boomers’ lifestyle? Is there a short-term problem occurring that is likely to disappear in the future?
Read more about location here.
What colour of houses sell fastest?
Should I lower the list price or offer an incentive to help my home sell faster?
How much will I need for closing costs?
How does mortgage loan insurance work?
Can I purchase a home with no down payment?
Aside from good ol’ scrimping and saving, you can also take advantage of the first-time Home Buyer’s Plan to borrow from your RRSPs – tax free! Click here for more information.
Is there a “best” time of year price-wise to buy a home?
I’m thinking about buying my first home. Where do I start?
Read more here.