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Beware of real estate euphemisms - wording on listing description that Lenders don't like
20 January 11 11:10 AM | Anne Lok | 0 Comments   
In today's stringent lending climate, as listing agents, we often don't think of how the description of what we write on the listing can affect the lender's decision in evaluating the property's attributes, while we try to make the property Read More...
Canadian Mortgage rules are changing...again
20 January 11 11:09 AM | Anne Lok | 0 Comments   
The finance minister announced changes to mortgage lending guidelines. The following changes were outlined: · Maximum amortization reduced to 30 years (from a current maximum of 35 years). This is a significant change for many borrowers who may Read More...
Potential changes in Canadian mortgage lending...
12 February 10 05:27 PM | Anne Lok | 0 Comments   
On March 4 th , many in the industry expect the Finance Minister to announce changes to mortgage lending regulations. Possible changes include: · increasing minimum down payment from 5% to 10%; · decreasing maximum amortization from 35 years Read More...
Applying for Construction Financing and Breakdown of Construction Draws
18 February 09 01:37 PM | Anne Lok | 0 Comments   
CONSTRUCTION DRAW FINANCING The following is meant to be a general guide to construction financing. Policies, fees and interest rates will differ for each lender who offers construction financing. Most lenders will require a complete package when submitting Read More...
Construction Loan for Purchasing Land to Build a Home
07 February 09 03:07 PM | Anne Lok | 0 Comments   
Here are 3 common contruction loan scenarios: 1. Clients purchase land and build a house on the land, most of these clients own the land ( free & clear) and requested for a progress financing loan from the bank. The only challenge is that, progress Read More...
The recurring cost you should be aware of after your home purchase...
24 August 08 12:39 PM | Anne Lok | 1 Comments   
Other than your monthly mortgage, here is a list of ongoing cost that should be accounted for as part of your monthly expenses after your take possession of your new home: · Property Tax · Heating (if applicable) · Hydro (if applicable) Read More...
Timing Toronto's Real Estate Market - When is a good time?
28 January 08 02:12 PM | Anne Lok | 0 Comments   
"I am thinking of buying, but I think I am going to wait till the market cools a bit..." Your decision of buying and selling is a personal decision. In a perfect world, one would want to buy when it's low, sell when it's high, rent and Read More...

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