Realty Biz

MARCH 30, 2023

There are fixed-rate mortgages, adjustable-rate mortgages, hybrid loans, reverse mortgages, and FHA loans that all come with varying interest rates. To get the best rate for your situation, be sure to look closely at each type of mortgage.

Mortgages 102

Mortgages Pre-approval Pre-qualification Due diligence 102

Toronto Realty Blog

APRIL 16, 2021

At 2.29% for a 25-year amortization, on a 5-year fixed-rate mortgage, they would carry this for $2,100.36 They qualified based on a “stress-tested” rate of 4.79%, and just slid through, being able to make those payments of $2,734.60. Fast-track residential construction projects? End NIMBY’ism?

Pre-qualification 65

Pre-qualification Development As-is Fixed-rate mortgage 65

Toronto Realty Blog

DECEMBER 14, 2022

October 19th, 2022, I wrote, “Should Tenants Be Pre Approved For Candidacy?” There’s no qualification to be a landlord. May 16th, 2022, I wrote, “How New Legislation Could Kill Condominium Construction” Only two days later, I followed up with a similar topic.

Development 81

Development Purchase and sale agreement As-is Marketing 81

The Close

DECEMBER 29, 2022

Construction loan. It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. A convertible ARM is a mortgage with a much lower interest rate at the start of the loan, where the interest rate fluctuates during the life of the loan, usually every six months.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97