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Home Buyer Resources

Welcome to Real Mortgage Associates Mortgage Broker Resource Centre.  Browse through our articles to see what's new and learn useful tactics and techniques for Real Estate Home Buyers.  

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Strong Interest for First-Time Home Buyers

Strong Interest for First-Time Home Buyers

Mortgage Professionals Canada released a new spring survey report, uniquely focusing on The Next Generation of Homebuyers. The report delves into the behaviours and attitudes of Canadians under the age of 40 who don’t currently own a home but expect to own in the future – a group for which very little has been reported ... Read More
 

The key players in your purchase

Purchasing a home requires more than just the buyer and seller. You’ ll also require the services of a variety of home-related professionals and I can help you find many of the right ones. Here are the key players in your purchase and the roles they play: Mortgage Broker The role of the mortgage broker ... Read More
 

Buying a Home With an RRSP

Use your RRSP to purchase your home   First Time Home Buyer? Don’t forget about the RRSP Home Buyers’ Plan. It can be all or part of your down payment. The rules have changed in recent years, so if you think you know them, double check here! What is the Home Buyers’Plan The Home Buyers’ ... Read More
 

Buying with 5% down payment

Don’t have the usual 25% down payment? No worries – Increase your leverage with a high ratio mortgage! This consumer-oriented program makes the dream of home ownership a reality for more Canadians than ever before. What is it? Two programs are available that let you buy a home for as little as a 5% down ... Read More
 

Purchase Price Checklist

Buying a home costs more than the offer you make. There are numerous other expenses that will add to the amount that you’ll need to spend. This purchase price checklist outlines all the costs you can expect. Please note that they can vary by province and are subject to change. Purchase Price The starting point ... Read More
 

Getting a mortgage pre-approved

Be prepared Don’t miss out on the home of your dreams because you can’t arrange financing quickly enough. Avoid disappointment. Apply online for a pre-approved mortgage with RMA now! What is it? A pre-approved mortgage puts your financing in place before you make an offer on a home. Usually, the sale of a home is ... Read More
 

Land Transfer Tax & OHOSP

This is a tax charged by the province when ownership of property is changed. It is normally paid by the purchaser when property is bought. You should check with your lawyer whenever you are considering any changes to title of real estate property (including adding spouses or children). It is better to understand all the ... Read More
 

Hi Ratio Mortgage Requirements

Number of Units 1-4 units, one of which must be occupied by the owner Maximum Loan-To-Value Ratio (LTV) 1 unit: 95% 2 units (eg: duplex): 92.50% 3 or 4 units: 90% Qualifying Interest Rate The interest rate used to determine borrower eligibility is determined as follows: Loan term less than 3 years—the greater of the lender’s 3 ... Read More
 

11 Tips For Buying a Home

Buying a home in can be one of the most exciting and rewarding things you ever do, or it can be one of the biggest nightmares you will ever go through. How you experience the home buying process depends entirely on how well prepared you are and how knowledgeable the people helping you are. The ... Read More