26 Dec 2016

abbotsford tdbank martgage

 

 

TD Canada trust bank is the first back announced to increase their mortgage prime rate to 2.85% that is .15 points increase.

Only the people with variable mortgage rates will be affected. Fixed term mortgage clients will remain unaffected. There is no change to Credit lines or any other product.

its hard to understand why TD Canada trust has done this where on the other hand some economists are predicting another rate cut by Bank of Canada. My personal thought on this is that all the Banks are afraid of losing money in the mortgage products as CMHC introduce these new rules for in mortgage business due to this all the banks has to put their own share of money as compared to previously all the risk was CMHC. Banks are not in the business to loose but to use your money and make huge profits.

 

18 Dec 2016
Buy a home in abbotsford bc with real estate agent

Step by step home buying guide

Buying a home is one of the most important and smart decisions you will ever make.Buying and owning a home will eventually save your money by building equity.

Following are the steps you must consider

Ask yourself, Are you ready to buy?

Look at your savings and decide if you have enough down payment? Are you good in managing your debt such as credit card payments, car loan etc?

Check your affordability.

Make the calculation on, what will be your monthly payments including mortgage payments, utilities, property taxes, credit card payments, car loan if any. Your down payment should be enough to cover closing costs such as lawyer fee, property inspection fee etc.

Look around, do research and decide what you want to buy?

Decide if you want to buy a house, Apartment or a condo. Do you want to live? Do you want to live near your work (may cost you more if you want to live in downtown)? Check the neighborhood, School for your kids (if you have any). Check around to see how the properties doing there, what will be property value if you decide to sell it in future.

Find the right REALTOR®

Drive around the neighborhood you are interested in buying a house, Look for signs, Look at the open houses, Ask your family, friends for references to hiring the right REALTOR®. Interview two or three Realtors®. Make sure you ask a question if in any doubt.

See what’s out there

Realtors® have access to MLS (multiple listing services) tool that can help them to look deeply into the property value, it’s sale history etc, and can guide you to make a wise decision. With the help of MLS Realtor can shortlist the type of homes you like, which can save your lot of time. Most of the Realtors® nowadays have their own website. where you can search for listings yourself.

Sell your current home

If you own a home make a decision and look at your finances if you can keep your old home and afford a new home. If you want you can rent your old home and buy a new home (depend on your mortgage payments of the old home) Renting can sometimes be stressful as a home require continued maintenance.

If you want to sell your old home look at the steps to sell your home

Look for a team

In today’s market many Realtors®, mortgage brokers, Home inspector, and lawyer works together. Their years of experience in the field can make your home buying process smooth and pleasant. For example, an experienced Lawyer will help you to understand all the legal steps of the home buying process and the home inspector can help you to find out the defects of the property which you cannot see.

Make an offer

Realtors® are highly trained professionals with a good reputation and have gone through rigorous Real Estate Council’s education requirements. Realtors®have experienced in negotiation’s and have the good understanding of sale and purchase contracts.

Arrange a mortgage

Realtors® can refer you to mortgage broker to get the best rate on your mortgage

Close the deal and move in

After your offer is accepted and your financing is finished you will have a fixed date to take the possession of the house. REALTOR® at that day will drop off the key or you can collect the key from their office.