A recent report from Canada Mortgage and Housing Corp. CMHC says that rising homeownership rates among seniors in the Toronto area is making it tougher for younger generations to get into the market.Author Inna Breidburg says that as Torontorsquo;s senior population grows at a faster pace during the next decade, ldquo;the conventional view is th...
This generation, often typecast as angst-ridden and cynical, is in fact extremely driven and focused on their long-term goals. Theyrsquo;re always planning their next big move ndash; whether it be working longer or deciding where they want to live.Del Webb, a leading builder of active adult home communities for those 55 and older, recently condu...
When potential borrowers start making a few phone calls to different mortgage companies to compare rates, itrsquo;s fairly straightforward. The loan officer answers the phone, gets a little information and provides a rate quote. Once the borrower decides where to apply, the wheels begin to turn. Lenders are required by statute to provide certain...
Yes, Price-per-square-foot is an important factor in determining the value of a home. But itrsquo;s not the only one.nbsp;ldquo;The reason why the price per square foot method is a poor method to determine market value is because every home is different,rdquo; said Coldwell Banker Seaside Realty.nbsp;ldquo;While homes are similar in terms of squ...
Sellers that are trying to compete with higher inventory levels will need to be able to compete with other sellers.One way of doing this is by offering seller concessions rather than lowering the price of the property. Home sales remain strong in many markets, but in others, increased inventory may require concessions to ldquo;sweeten the deal.r...
The Type of MortgageA common mortgage lasts for 30 years, but that isnrsquo;t the only option you have. Depending on your budget, you may choose among varying policies that differ by length, down payment, or government assistance. For instance, the Veterans Affairs Benefits Administration and Federal Housing Administration offer loans that come ...
Keep Things EasyWhile simple living is all the rage, you may not be interested in minimalist design. However, it is important for busy adults to design their homes in a way that keeps things easy.Do you enjoy outdoor activities such as working on your own lawn or in your own garden? Make sure the entrance youll use the most after these activitie...
30-year fixed-rate conventionalThis is a 30-year loan with rates that are fixed every month. These loans follow Fannie Mae and Freddie Mac guidelines and are not backed by the government like FHA loans.Pro: With set payments, therersquo;s no need to worry about rising rates. Loans are available for a range of buyers, with options like HomeReady ...
More often than not, individual deeds of trust [DOTs] provide a higher coupon than mortgage pool funds [Funds], but there are some specific downsides to choosing individual DOTs instead of Funds. First, choosing the right DOT takes due diligence and a certain amount of expertise in many cases. Investing in extremely conservative DOTs that have L...
ldquo;Refinancing your mortgage to take cash out using your homersquo;s equity may not be as easy to do under new limitations on cash-out refinances >The previous loan-to-value LTV limit on cash-out refinances was 85; effective for loans on or after September 1, 2019, HUD is lowering the requirement to 80. This change ldquo;seeks to mitigate ris...
1. Rates are crazy low.Lower rates mean more affordable lending, or more for your money if you choose to reach higher.nbsp;2. Because it will appreciate.According to Co>3. Because passive income is good.nbsp;Yes, itrsquo;s nice to know there will likely be appreciation over time, but the real key to success with investment properties is passive ...
You have not listed your house or condominium unit for sale. Why?Is the decision not to sell and move the result of your active exploration of housing and life>Inertia, or the trend toward passiveness or inactivity, describes, in physics, the tendency of a body at rest to stay at rest unless external energy is applied.In real estate terms, this ...
You must first understand how these three digit scores are calculated. Scores range from as low as 300 to as high as 850. Although Irsquo;ve never seen any score as low as 300 or as high as the perfect 850. Personally, I think either is impossible to achieve. That said, those with excellent credit didnrsquo;t get those scores by accident. Credit...
What is Solar Power? How is it Used?In using sustainable solar power, solar panels use photons, or light energy from the sun to create electricity. Crystalline silicon or thin-film cells collect the energy. A junction box connects the solar panel and its output interface. MC4 connectors or USB power interfaces provide weatherproof connections to...
Change Real Estate AgentsSometimes the problem with selling your home isnrsquo;t the house but the selling agent. The worst performers are ldquo;post and prayrdquo; agents who assume that listing your home on the MLS is all they need to do. The solution is to change your real estate agent. Switching to a high volume real estate agent or someone ...
Even the simplest jobs come with their safety risks. Understanding these risks and what measures you need to take to protect yourself can save you from some nasty injuries. In this post, wersquo;ll take a look at the proper safety procedures that come with using tools and clothing while doing DIY work at home.ClothingProtective clothing for home...
Regular income is verified by paycheck stubs and W2 forms. Income must be documented to have at least a two year history. This timeline is valid for all sources of income. If someone has only worked for one and a half-years, that individual will have to wait until the two year period has passed. Documentation of the two year period means providi...
The window, as you can see, is directly over the bathtub and also right in the line of sight if you happen to be: in a towel, changing your clothes, or in the commode with the door open It happens. No one wants to meet eyes with a stranger while theyrsquo;re on the toilet.nbsp;We also dont want to completely cover over the window because, despit...
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