Mortgage Renewal | Evelyn Lopes Realty Team_Blog

Monday, July 24, 2023   /   by Evelyn Lopes- Klarine

REVERSE MORTGAGES CANADA: Unlocking the Value of Your Home Equity

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Unlocking the Value of Your Home: A Deep Dive into Reverse Mortgages in Canada
As Canadians, we treasure our homes - they hold our memories, our dreams, and a significant chunk of our wealth. If you're aged 55 or older, did you know you can tap into the value of your home without selling it? Welcome to the world of reverse mortgages - a financial tool seeing annual growth rates of over 28%.
Unraveling the Reverse Mortgage
In simple terms, a reverse mortgage is a loan that allows homeowners to convert up to 55% of their home's value into tax-free cash, providing an avenue to unlock equity built over the years. The loan is secured against the value of your home, with repayment required only when you decide to move or sell. One of the most attractive features is the flexibility in payment options - you can choose to make monthly payments or opt for a no payment option.
Reverse Mortgage Benefits
Reverse mortgages present a ...

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Monday, July 17, 2023   /   by Evelyn Lopes- Klarine

Creating a winning real estate strategy to finance your home purchase in today’s changing market

Are you dreaming of owning a home within the Toronto GTA, but feel lost in the twists and turns of today's housing market? Check out this blog where you will uncover tips to guide you through creating a rock-solid plan to make that dream home yours.
In the ever-evolving real estate landscape, the urgency for a robust real estate strategy has never been greater. Faced with unprecedented market dynamics and fierce competition, your journey towards homeownership must be underpinned by a comprehensive plan.
Understanding the Basics Real estate isn't merely about purchasing a property - it's about making a long-term investment. With the Toronto GTA’s dynamic market, a clear understanding of the fundamental principles of home financing is critical. The process can be complex, but it becomes manageable when you fully comprehend the basics.
Economic Factors Influencing the Real Estate Market To create a winning strategy, you need to understand the economic indicators that play a ; ...

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Tuesday, May 23, 2023   /   by Evelyn Lopes- Klarine

The Canadian Mortgage Mystery: Why is my neighbours kid GETTING A BETTER MORTGAGE RATE than me?

Navigating the Canadian Mortgage Landscape: A Comprehensive Guide

 

Picture this: You're on your usual neighborhood walk, a time for calm and thought, when you overhear words like 'mortgage', 'rates', and 'policies, stirring a sense of curiosity in you.

Not long ago, you got your own home loan. You had saved up a sizable downpayment, your credit score was great, and your job was steady. Yet, the word on the street is that your neighbor's young son, only a few years into his first job, just got a home loan too. What's more, he's got a better interest rate than you do! Despite your financial stability and good credit, somehow he managed to secure a better deal. How could that be?

 

There's a new topic of conversation in town about changes in lending rules, which is causing a stir in the usually straightforward world of home loans. Apparently, lending rules have changed. "What's going on?" you wonder.

 

Today, we're going to dig into this puzzlin ...

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Monday, May 8, 2023   /   by Evelyn Lopes- Klarine

Mortgages Update and Co-Ownership Programs

Mortgages  Update and Co-Ownership Programs
Co-ownership mortgages are a financing option that is becoming increasingly popular among homebuyers, especially for those looking to enter the high cost housing market within the Toronto GTA, such as the first time home buyer. In this type of mortgage, home buyers come together with a co-equity partner and a lender in order to qualify for and purchase a property, sharing the costs and equity positions of homeownership.
So, what does a co-ownership mortgage look like? Some of the new co-ownership programs assist buyers with their down-payments and with some of the costs of purchasing a home such as land transfer taxes for a return in the equity of the property down the line. The co-owners will typically sign a legal agreement outlining each party's responsibilities and rights, such as how they will split expenses and how they will handle the sale of the property if one party wishes to exit the arrangement.  A co-ownership agreem; ...

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Tuesday, April 25, 2023   /   by Evelyn Lopes- Klarine

PRE CONSTRUCTION UNITS_ Investing & Financing Tips

PRE CONSTRUCTION UNITS_ Investing & Financing Tips

Are you considering investing in builder pre-construction units but not sure where to start? Look no further! In this blog, we'll be sharing valuable insights and tips from a mortgage specialist and discussing important considerations you need to know about investing in pre-construction units. We'll cover the potential benefits, the risks involved, and how to mitigate them. Plus, we'll dive into the financing options available so you can make an informed and strategic decision. 

Investing in pre-construction units can be a great way to grow your investment portfolio and build long-term wealth. As we've discussed in this blog post, there are potential benefits and risks involved in this investment strategy, and it's crucial to have the right guidance and information to make informed decisions.

One of the primary benefits of investing in pre-construction units is the flexibility of deposit structures, allowing investorsm ...

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