I'm a banking and real estate professional with over 20 years of experience in new home construction, banking, back-office processing and mortgage/lending. I now spend my time educating the public in these areas of real estate and banking.
A car loan can affect your mortgage application in a negative way, by reducing the amount of mortgage you qualify for. A car loan can increase your debt-to-income ratio, which can lower the mortgage amount you qualify for. An automotive financing car loan will show… Read More »Does a Car Loan Affect Your Mortgage Application?
Home builders do not pay closing costs, but they may offer incentives on closing costs. The majority of closing costs are related to the mortgage process, and working with the builder’s lender may provide incentives on the closing costs. The buyer is responsible for paying… Read More »Do Home Builders Pay Closing Costs?
You can buy a second home and rent out the first in Canada, as long as you make a 20% down payment on the new home, or deem the second home as a principal residence. There are many people who own a second home for… Read More »Buying a Second Home and Renting Out the First in Canada
You can get a mortgage for more than the purchase price for renovations by applying for a purchase plus improvements mortgage. This mortgage would give you additional funds to cover renovation costs for the home you’re buying. You will need to obtain quotes for the… Read More »Can You Get a Mortgage for More than the Purchase Price for Renovations
You can sell your home before 5 years, or soon after purchasing the home without keeping it for long. There is no 5-year rule for selling a house soon after buying it. While there is no rule, there may be penalties for breaking your mortgage… Read More »Can You Sell Your House Before 5 Years
You can buy a house with multiple owners in Canada by using a joint mortgage. It’s common for people to buy a house with multiple owners, such as friends, parents, business partners, co-workers and family. It’s easier to qualify for a mortgage when you have… Read More »How to Buy a House with Multiple Owners
So, are new homes more energy efficient? New homes are more energy efficient because they are built using energy-efficient doors and windows, better insulation, Energy Star appliances, and smart home heating and thermostats. With new advancements in technology, new homes are becoming more energy efficient.… Read More »Are New Homes More Energy Efficient?
The average house prices in Belleville, Ontario continue to rise in 2021 with strong exodus from the GTA. As of December 2020, the average house price in Belleville, Ontario was $546,053 in the residential market, and $569,514 in the single family market. Belleville, Ontario has… Read More »Average House Prices in Belleville, Ontario Rising in 2021
It is recommended for a new construction to have a home inspection, whether it’s a pre-delivery inspection or a professional home inspection by a certified professional. The home inspection will bring light to any issues in the home prior to taking possession. An existing home… Read More »Should New Construction Have a Home Inspection?
You will need a 200-amp service for your electrical panel if your breakers are currently tripping due to overload, or if you plan to add additional appliances and equipment to your home. It will also help increase electrical safety, and available breakers and allow you… Read More »Do I Need 200-amp Service Electrical Panel?
New home warranties are easily transferrable to the new owner within the initial seven-year period of warranty coverage. A new home warranty does not automatically transfer to the new owner, but it can be transferred by calling the warranty provider. If you’re looking at purchasing… Read More »Are New Home Warranties Transferable?
