Must Know Costs When Buying A Home | Evelyn Lopes Realty Team_Blog

Monday, March 27, 2023   /   by Evelyn Lopes- Klarine

Refinancing, Mortgages & Money

Refinancing, Mortgages & Money
Welcome to another episode of Realty Bytes - Conversations on Real Estate and Lifestyle.With your host, Evelyn Lopes, and today’s special guest, mortgage agent Walid Mutahar. In this episode, they discuss mortgage financing and specifically, the topic of refinancing.

Refinancing can be an excellent option for homeowners looking to lower their monthly mortgage payments, access their home equity, or even shorten the term of their loan. But why would someone want or need to refinance? Well, there are several reasons. One of the most common reasons is to take advantage of lower interest rates. If you can lower your interest rate by even a half a percentage point, it can save you thousands of dollars over the life of your loan.

Another reason people refinance is to access their home equity. Home equity is the difference between the current market value of your home and the amount you owe on your mortgage. Refinancing can allow you to tap int ...

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Wednesday, February 15, 2023   /   by Evelyn Lopes

MUST KNOW COSTS WHEN BUYING A HOME

MUST KNOW COSTS WHEN BUYING A HOME

Are you or someone you know looking to buy your first home?
As a first time home buyer, you have likely been saving your pennies and you may think you’re finally ready to buy a home? Are you?
Let's look at some of the hidden costs that you may not be aware of when  purchasing a home, so that you can be best prepared to enter the real estate market.
Most first-time homebuyers know that they need to budget for a down payment when buying a home, but many overlook the other costs involved.
Have you ever wondered how much does it cost to buy a home?
If you’re preparing to buy your first home, make sure you have budgeted enough to cover additional expenses, like a home inspection, appraisal fees, insurance, and closing costs.
Here in the greater Toronto area and surrounding communities, you can expect to pay around…
? $500 for a home inspection,
? Approximately $500 for a home appraisal,
? And $150-200 month for home insI ...

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