The Top 10 Canadian Cities to Live

General Kristina Crosbie 30 Jan

These were the top 10 Canadian cities to live in 2018.
Who knew that Kingston and Ottawa are some of the top cities? In Smiths Falls, we are just right down the road!

Would you like to live in one of these cities? Maybe somewhere a bit warmer? We would love to help you get a mortgage to live in the location of your dreams, just give us a call.

CMI: Canadian Mortgages Inc.

5 Mistakes First Time Home Buyers Make

Mortgage Tips Kristina Crosbie 28 Jan

You are ready to buy a home! We know you are excited, but it’s important to do your homework before jumping in! We have outlined the 5 mistakes First Time Home Buyers commonly make, and how you can avoid them and look like a Home Buying Champ.

1. Shopping Outside Your Budget
It’s always an excellent idea to get pre-approved prior to starting your house hunting. This can give you a clear idea of exactly what your finances are and what you can comfortably afford.

2. Forgetting to Budget for Closing Costs
Most first-time buyers know about the down payment, but fail to realize that there are a number of costs associated with closing on a home.

They include:

– Legal and Notary Fees
– Property Transfer Tax (though, as a First Time Home Buyer, you might be exempt from this cost).
– Home Inspection fees

There can also be other costs included depending on the type of mortgage and lender you work with (ex. Insurance premiums, broker/lender fees). Check with your broker and get an estimate of what the cost will be once you have your pre-approval completed.

3. Buying a Home on Looks Alone
It can be easy to fall in love with a home the minute you walk into it. But before putting in an offer on the home, be sure to look past the cosmetic upgrades. Ask questions such as:

When was the roof last done?
How old is the furnace and water heater?
When were the windows last updated?

Look for a home that has solid, good bones. Cosmetic upgrades can be made later and are far less of a headache than these bigger upgrades.

4. Skipping the Home Inspection
A home inspection can turn up so many unforeseen problems such as water damage, foundation cracks and other potential problems that would be expensive to have to repair down the road.

5. Not Using a Broker
If you are relying solely on your bank to provide you with the best rate you may be missing out on great opportunities that a Dominion Lending Centres mortgage broker can offer you. They can work with you to and multiple lenders to find the sharpest rate and the best product for your lifestyle.

Find the full article by Geoff Lee Here.