Are you planning on purchasing a new home in the Calgary area soon? If so, you're probably saving up for your down payment. There are a few things that you should understand, however, about how to save for a down payment and the size of the down payment needed in order to buy a Calgary home.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
How Much Money Down Do You Need for a Home?
The most important thing that you need to know about your mortgage is that an insurance premium will need to be paid to the Canada Mortgage and Housing Corporation if you can't make a minimum 20% down payment for your home. This premium is based on the total amount of the
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If you're planning on purchasing a new condo and have never owned your own property before, there's one important thing to remember. When you see a lovely condo being advertised on the listings and you feel that it's something you can afford, you'll first want to find out what the condo fees are. The fees will need to be paid monthly and should be added to the mortgage amount of the condo when you're trying to determine whether you can afford the monthly payments.
You have been looking around at different homes on the market and have finally found it - the home of your dreams. The problem is that another couple also have their eyes on the same home and seem to want it as much as you do. The bidding war begins for the real estate and you don't know what to do next. Here are a few tips to help you get through it.
Are you in the market for a new home this spring? If so, it's a great time to purchase a property due to the low interest rates. If you're like most borrowers, however, you don't pay a lot of attention to the mortgage rates posted since you know that this may not be the exact amount you'll be paying. These posted rates do matter though and it's important that you understand why.
Once the big day has arrived and the green movers are pulling up in your driveway, everything starts to really sink in. Although you have probably been preparing for this move for months, the reality really starts to come to life when the moving truck arrives and the movers start approaching your door.
Moving to a different home is both exciting and stressful, and when people decide to pack up and move, they can quickly get overwhelmed. Fortunately, with a proper timeline and a good calendar, it's possible to take a lot of stress out of the experience of relocating or buying a new home. Here's a calendar/timeline that can help.
a Calgary house purchase is in your plans make sure that you go through every aspect of the buying decision with your partner first in order to avoid any potential future disagreements.
While the condominium lifestyle is a dream for many homeowners, certain individuals may discover that living amid a condo community isn't exactly their cup of tea. Of course, there are pros and cons of buying a Calgary condo, just like there are in any community. So, before signing on the dotted line here are five considerations before buying a condo.
Some may be looking to buy their first home and not know about the common requirements and initial challenges they may face. Canadian residents may need prepare themselves beforehand, learning how to best position themselves to have a seller accept their offer and move toward closing on a home. What do new potential homeowners need to know?