Today's Mortgage Choice

Are you a first-time homebuyer in Ontario? Great news! There are various incentives to help you reduce costs and make homeownership more affordable. Ontario Land Transfer Tax Rebate: Receive up to $4,000 back on the provincial land transfer tax. In Toronto, an additional municipal rebate of up to $4,475 is also available. Home Buyers' Plan (HBP): Withdraw up to $60,000 tax-free from your RRSP to fund your first home purchase. First-Time Home Buyers' Tax Credit (HBTC): Get a tax credit of up to $1,500 to help offset closing costs. GST/HST New Housing Rebate: Claim a rebate on the taxes paid for newly built or substantially renovated homes. Each program has specific eligibility requirements, but these incentives can significantly reduce costs and get you closer to your dream home. - - - #realestate #mortgage #property #investment #homes #TMCgroup #financialhelp #financehack #financetips #todaysmortgagechoice #finance #loans #success #wealth #business #homesales #homebuyers #sudbury #ottawa #durham #cambridgeontario #peterborough #ontario #sudburyrealestate #ontariorealestate #ontariomortgage #closingcosts #buyingahome #newhomebuyer #ontariohomes

Provincial Planning Statement (PPS) 2024: What You Need to Know! The Provincial Planning Statement, 2024, is Ontario’s updated land use policy, designed to tackle the housing crisis and simplify planning for municipalities. It replaces older policies like the 2020 Provincial Policy Statement and the 2019 Growth Plan for the Greater Golden Horseshoe. But what does this mean for you? Here’s how the PPS 2024 could impact you: More Housing: Municipalities have more flexibility to increase housing supply, making homes more accessible. Efficient Development: Infrastructure will be aligned with new developments, ensuring support for growth and economic opportunities. Rural & Urban Balance: The policy helps maintain vibrant rural areas while protecting essential agricultural lands and the environment. This policy was shaped by public consultations and input from Indigenous communities, ensuring it reflects various perspectives. Protecting Land & Resources: While boosting housing, PPS 2024 also safeguards farmland, water, and cultural heritage sites from development threats. Reach out to us today! We're here to help! - - - #realestate #mortgage #property #investment #homes #TMCgroup #financialhelp #financehack #financetips #todaysmortgagechoice #finance #loans #success #wealth #business #homesales #homebuyers #sudbury #ottawa #durham #cambridgeontario #peterborough #ontario #sudburyrealestate #ontariorealestate #ontariomortgage #closingcosts #buyingahome #newhomebuyer #ontariohomes

With the cottage market cooling across Canada, now might be the perfect time to purchase a dream waterfront property. Experts report that Ontario is experiencing one of its slowest cottage sales seasons in decades, with a 40% drop in sales compared to last year. Factors like high interest rates, inflation, and extended foreign buyer restrictions have created a buyer’s market, putting those looking for cottages in the driver’s seat. As summer ends and sellers become more motivated, expect prices to continue dropping, especially for waterfront properties. Whether you’re eyeing a lakeside getaway or looking for a long-term investment, fall could offer the best deals on cottages. Please take advantage of the slower market and contact us today! - - - #realestate #mortgage #property #investment #homes #TMCgroup #financialhelp #financehack #financetips #todaysmortgagechoice #finance #loans #success #wealth #business #homesales #homebuyers #sudbury #ottawa #durham #cambridgeontario #peterborough #ontario #sudburyrealestate #ontariorealestate #ontariomortgage #closingcosts #buyingahome #newhomebuyer #ontariohomes

What the 2024 Federal Interest Rate Hikes Mean for Ontario Homebuyers 2024 has brought a significant shift in the mortgage landscape for Ontario buyers! With inflation finally hitting the Bank of Canada’s target, we’ve started seeing rate cuts after two years of hikes. This is excellent news for buyers and homeowners alike, but what does it mean for you? Variable-Rate Mortgages: The recent rate cut by 0.25% offers immediate budget relief if you have a variable-rate mortgage or a HELOC. You might see further cuts by the end of the year as the BoC works to balance economic concerns. Fixed-Rate Mortgages: Fixed rates could also continue to drop, although they’re typically slower to respond. With bond yields being volatile, now is a great time to explore your options. Don’t wait until rates drop further — a rate hold can protect you from sudden changes! What to Expect: Experts predict that rates will likely drop through the first quarter of 2025, which could further open up the housing market. However, economic factors like job growth and inflation will continue to play a significant role in where rates land. Buying or refinancing? Now might be your window! Reach out to us today for personalized advice and to secure your best rate. We're here to help! - - - #realestate #mortgage #property #investment #homes #TMCgroup #financialhelp #financehack #financetips #todaysmortgagechoice #finance #loans #success #wealth #business #homesales #homebuyers #sudbury #ottawa #durham #cambridgeontario #peterborough #ontario #sudburyrealestate #ontariorealestate #ontariomortgage #closingcosts #buyingahome #newhomebuyer #ontariohomes

Ontario Real Estate: What to Expect This Fall! As we head into Fall 2024, Ontario’s real estate market is set for an exciting shift! Fall is always busy, but this year could be hotter than ever, thanks to a potential interest rate drop. A full 1% cut is expected, which could spark a surge in activity. Why This Matters: For buyers, a lower interest rate means reduced mortgage payments, making homes more affordable. If you’ve been waiting to buy, this could be your chance! More buyers in the market means increased demand and potentially higher sale prices for sellers. It’s a win-win for both sides! What to Expect This Fall: New Listings Surge – More homes hit the market as summer ends, giving buyers more options. Pent-Up Demand – Lower rates will likely encourage more buyers to enter the market. Intense Competition – Well-priced homes could see multiple offers, making it a great time to sell. Economic Stability – Ontario’s strong economy supports a healthy real estate market. Pro Tips for Buyers & Sellers: Buyers: Get pre-approved and be ready to move quickly! Sellers: Price competitively and showcase your home’s seasonal appeal. The fall market is shaping up to be full of opportunities for both buyers and sellers. Reach out to us today to learn how to take advantage of these market shifts! - - - #realestate #mortgage #property #investment #homes #TMCgroup #financialhelp #financehack #financetips #todaysmortgagechoice #finance #loans #success #wealth #business #homesales #homebuyers #sudbury #ottawa #durham #cambridgeontario #peterborough #ontario #sudburyrealestate #ontariorealestate #ontariomortgage #closingcosts #buyingahome #newhomebuyer #ontariohomes

🏠 Buying a home in Ontario? Purchasing a home is a significant step, both financially and legally. Ontario's real estate market is diverse, and understanding the process is vital. As mortgage experts, we’re here to help you navigate the home buying process. Here's a glimpse of what to expect: Purchase Contract: After finding your dream property, you'll sign the "Agreement of Purchase and Sale." This document outlines rights, obligations, and conditions for both you and the seller. Conditions to Meet: The agreement often includes conditions like securing financing, satisfactory home inspection results, insurance arrangements, and resolving key issues. These conditions must be met for the agreement to progress. Title Search: Your real estate lawyer conducts a thorough legal title examination, confirming tax payments and more. Financing: Your lawyer will work with us, your mortgage broker, to secure financing. If any factors change (e.g., employment status or property issues), we must be informed. Closing Documents: Your lawyer will provide documents for you to sign, including authorization for property transfer and lender-required paperwork. Closing Date: On this day, the mortgage funds are transferred to your lawyer, who handles the title transfer and finalizes the deal. The keys are usually delivered to your lawyer's office. Possession: The agreement often specifies that the deal will be completed by a certain time, but it's a good idea to arrange for a final inspection before moving in. Identifying new issues can help get them resolved. This overview simplifies a complex process, and there are nuances based on the type of property you're buying. Contact us today and we'll help navigate the intricacies of property purchasing in Ontario. 📜🏡 - - - #realestate #mortgage #property #investment #homes #TMCgroup #financialhelp #financehack #financetips #todaysmortgagechoice #finance #loans #success #wealth #business #homesales #homebuyers #sudbury #ottawa #durham #cambridgeontario #peterborough #ontario #sudburyrealestate #ontariorealestate #ontariomortgage #closingcosts #buyingahome #newhomebuyer #ontariohomes

Considering a Fixer-Upper? Dreaming of your ideal home on a budget? Discover the potential savings of buying a fixer-upper! Drive through neighbourhoods you’re interested in—sometimes sellers will put a “For Sale by Owner” sign in their front yard. Check county records to determine the property’s actual market value. If the asking price is well below, it’s a sign you’ll have room to bargain. But make sure essentials like the roof, foundation, and major systems are in decent shape before making an offer. Once you find a promising prospect, get an inspection. A professional can spot issues you might miss, and their report gives you leverage to ask the seller to make necessary repairs or lower the price. With some vision and challenging work, a fixer-upper in a great area can become your dream home. And by doing the work yourself or hiring contractors, you’ll build instant equity. Just ensure the numbers add up so you’ll come out ahead when it’s time to sell. Ready to embark on your fixer-upper journey? Contact us today and we'll help you through the process! - - - #realestate #mortgage #property #investment #homes #TMCgroup #financialhelp #financehack #financetips #todaysmortgagechoice #finance #loans #success #wealth #business #homesales #homebuyers #sudbury #ottawa #durham #cambridgeontario #peterborough #ontario #sudburyrealestate #ontariorealestate #ontariomortgage #closingcosts #buyingahome #newhomebuyer #ontariohomes

🏡 How to Choose the Right Neighbourhood to Live In 🏡 Choosing the perfect neighbourhood for your next home or investment property is a blend of personal preferences and practical considerations. Your lifestyle and priorities are key, but so is the neighbourhood value.! Whether you're a young professional seeking vibrant nightlife or a new parent looking for schools and parks, here's how to make the right choice. 1️⃣ Start with a brainstorm: Identify your keywords, like safety, walkability, affordability, and more. Circle your non-negotiables. 2️⃣ Practical considerations: Explore affordability, safety, and accessibility. Is the price justifiable? Will you feel safe? How's your daily commute? 3️⃣ Spend time in the area: Walk around, chat with locals, and check day and night vibes. Safety matters, so research crime rates. 4️⃣ Be smart with research: Use online tools, school rankings, and local business reviews to dig deeper. 5️⃣ Consider your lifestyle: Think about daily life, future plans, and potential changes. Will this neighbourhood suit your evolving needs? 6️⃣ Scope out the neighbours: Observe neighbouring properties. Are they well-maintained? Do they match your lifestyle? Your new home is more than just four walls. It's your lifestyle, your community, and your future. Let us help guide you in making the choice that best suits you! - - - #realestate #mortgage #property #investment #homes #TMCgroup #financialhelp #financehack #financetips #todaysmortgagechoice #finance #loans #success #wealth #business #homesales #homebuyers #sudbury #ottawa #durham #cambridgeontario #peterborough #ontario #sudburyrealestate #ontariorealestate #ontariomortgage #closingcosts #buyingahome #newhomebuyer #ontariohomes

Did you know most mortgage lenders in Canada charge you a fee for paying off your complete mortgage early? A prepayment penalty is a fee your mortgage lender charges if you overpay, break your contract, switch lenders early, or pay off your mortgage too soon. Prepayment penalties can vary based on factors like your mortgage type and remaining term. While paying off your mortgage ahead of schedule can be a smart move, it's essential to be aware of potential prepayment penalties set by your lender. These penalties can vary based on factors like your mortgage type and remaining term. Pro tip: If you have an open mortgage, you're in the clear! You can make extra payments without facing any penalties. Before deciding to pay off your mortgage early, it’s critical to consult with us as your trusted mortgage experts. We’ll help you carefully the terms of your agreement with your lender, and weigh the pros and cons like penalty costs versus potential interest savings. Ready to explore your mortgage options and navigate prepayment penalties? Contact us, your trusted mortgage experts, today for personalized guidance and expert advice! #realestate #mortgage #property #investment #homes #TMCgroup #financialhelp #financehack #financetips #todaysmortgagechoice #finance #loans #success #wealth #business #homesales #homebuyers #sudbury #ottawa #durham #cambridgeontario #peterborough #ontario #sudburyrealestate #ontariorealestate #ontariomortgage #closingcosts #buyingahome #newhomebuyer #ontariohomes

Home renovations can be a very daunting task. While some work such as electrical and plumbing should always be handled by a professional, there are some projects around the house that are more DIY friendly. If you’re looking to transform your space without breaking the bank, here are 5 awesome DIY projects you can try in your home today! Boost Accessible Kitchen Storage: Open shelves are not only aesthetically pleasing but also practical, keeping dishes, spices, and cookware within easy reach. This DIY project maximizes unused wall or corner space, enhancing kitchen functionality without the need for costly renovations. Restore Shine to a Wood Floor: Revitalize dull and distressed wood floors with a simple polishing routine. This DIY project not only enhances the beauty of your home but also protects your investment by extending the lifespan of your flooring. Give the Fireplace a Facelift: Transform a tired brick fireplace into a modern focal point with a fresh coat of paint. This budget-friendly DIY instantly updates the look of your living space, adding style and sophistication without the need for expensive renovations. Add a Water Filter to Your Sink: Enhance the quality of your drinking water and reduce clutter on your countertop with an under sink water filter. This DIY project provides clean, great-tasting water without the need for bulky filtration systems, saving both space and money. Upgrade a Small Appliance: Boost efficiency in the kitchen by replacing outdated or underperforming small appliances with newer models. Whether it's a coffee machine, toaster, or blender, upgrading to a more advanced appliance can streamline your cooking routine and save valuable countertop space. #realestate #mortgage #property #investment #homes #TMCgroup #financialhelp #financehack #financetips #todaysmortgagechoice #finance #loans #success #wealth #business #homesales #homebuyers #sudbury #ottawa #durham #cambridgeontario #peterborough #ontario #sudburyrealestate #ontariorealestate #ontariomortgage #closingcosts #buyingahome #newhomebuyer #ontariohomes