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Roberto Vivas

When is the right time to sell your house?

Friday Aug 16th, 2019

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The range is about 5-7 years for a growing family, closer to 5 years if you’re completely out of space and your location no longer works for you. WHY 5-7 years??? 1. Desire Statistically, many Canadians (28%) start to think about moving every 5 years... (it’s probably driven about the fact that you renew your mortgage every 5 years) but if you’re still itching at 7 years, it’s probably because you really just don’t fit anymore… Then... [read more]

Rent vs. Buy

Wednesday May 15th, 2019

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To buy or not to buy..... It’s a question many people struggle with. Please see the following information that will help you decide:   Advantages  - A sound investment. If you choose a home you can afford, the payoff can be great. When you make a mortgage payment each month, you build equity in a place of your own (unlike a rent payment). Equity is the difference between the value of the home and your outstanding mortgage. The longer you stay in your home (and... [read more]

Moving to a new home? ..... Use this Home Moving Checklist

Wednesday May 15th, 2019

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Moving is exciting but it can be stressful. Use this Home Moving Checklist below to help you plan ahead and get organized in the weeks leading up to your move. Within 2 months of your move: Create a file to keep track of important documents such as estimates and receipts. Remember to keep the file somewhere safe to ensure it doesn’t get packed away! Research movers and/or truck rental companies. Book in advance to ensure you get a moving truck for the day you need... [read more]

How Long will it take to Rent a Property?

Wednesday May 15th, 2019

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This depent on a number of various factors such as; Time of year Similar properties available in the area Vacancy rate in the area Rental price Should you have any questions or concerns please do not hesitate to contact me. [read more]

Fixed vs. Variable interest rate

Wednesday May 15th, 2019

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Mortgage payments reduce the interest owing on your loan while they reduce the principal amount that you owe. In the first term of your first mortgage, most of your payment will be allocated to interest charges. By your final term, the opposite will happen. With a fixed rate mortgage, your interest rate will not change throughout the term of your mortgage. With a variable rate, your payment amount stays fixed for the term; however, the interest rate will fluctuate with any changes in our... [read more]

What are the Closing Costs?

Wednesday May 15th, 2019

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Some of the money that you’ve saved for your first home will need to include closing costs. These are the legal and administrative fees that all home buyers are required or recommended to pay before and after the transaction is completed. Mortgage default insurance providers will ask for proof of your ability to cover closing costs based on 1.5% of the purchase price. Budgeting at least this amount is recommended for all first-time home buyers.     [read more]

Get up to $25,000 from your RRSP when buying your first home

Wednesday May 15th, 2019

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First-time home buyers may be eligible for the government's Home Buyers' Plan (HBP)Opens a popup.. You and your spouse or partner may withdraw up to $25,000 each from your Registered Retirement Savings Plan (RRSP), which could help with your home purchase costs.   You won’t pay any tax on the amounts you withdraw if you repay the total amount to your RRSP as required within the next 15 years. The repayment period starts the second year after... [read more]

What Is The Minimum Deposit or Down payment For A Home Loan?

Friday May 03rd, 2019

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What Is The Minimum Deposit For A Home Loan?

Saving the down payment to buy a home can seem overwhelming. First-time home buyers and those who've gone through the process before can experience the same anxiety. But it doesn’t have to be that way. Sometimes saving for a down payment is as simple as making small changes to your budget or exploring other financing options. Both could help you save more money and reduce the amount of mortgage you need. The amount of your down payment influences the property you can afford, the... [read more]

What documents do I need to apply for a rental property?

Friday May 03rd, 2019

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What documents do I need to apply for a rental property?

You’ll need the following documents for your rental application: Reference letters Pet references (if applicable) Proof of income (recent payslips, bank statements, tax return) Letter of employment Valid ID (passport, driver’s licence) Credit Score or Credit Record - you can get it through your credit card company, www.equifax.ca | www.transunion.ca or get it for free at Credit Karma www.creditkarma.ca  Letter of recommendation by the... [read more]

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