Anne Lok, B. Arch M.S. AAD Salesperson

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 sound more appealing for buyers.    -sellers do not warrant retrofit ...

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 need the longer amortization ...

On March 4th, 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 ...

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 for a construction mortgage approval.  For more information, ...

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 financing can be expensive, as the bank requires the clients to get an appraisal done at every ...

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 ...

"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 ...