Spring Real Estate Market | Home Loan Ontario
The spring has historically always been the best time to list and sell your home. The spring market of 2012 has been particularly hot in terms of the sale of properties. Homes have been selling rather quickly, and for top dollar, especially in more affluent and desired neighbourhoods. The Oakville and Burlington areas of southern Ontario are among those areas that are very healthy in the real estate sector. Many homes in these cities are selling extremely quickly, often within days of getting listed. These cities are great areas to invest in real estate, as the demand for homes in the area remains quite high. In addition, interest rates are still quite low, making this a great time to apply for a home loan in Ontario to buy property in the Oakville, Milton and Burlington areas.
Investing in Real Estate Now Can Afford You Great Returns in the Near Future
Buyers and sellers are both aware of the current healthy market condition in areas in Greater Toronto. Because of this, homes are generally being bought for close to asking price, if not full asking price. Selling prices of homes are up 11% in the Oakville-Burlington-Milton areas from February 2011, according to TREB stats.
Since the market is still pretty tight, higher price growth in homes will probably result. Even though prices are still climbing, houses are still within affordable ranges for many Canadians. From a mortgage loan perspective for income earnings in the average household, homes are still within comfortable price ranges.
By investing in a home now, you can realize quick profits from your investments in as little as a year. Based on the fact that interest rates are still very low, now is as good a time as ever to lock into a home loan in Ontario at a low interest rate and pay as little as possible towards the interest on your mortgage.
Work With a Professional Mortgage Agent
Regardless of whether you are shopping around for your first home, or you are looking to move out of your existing home, or even looking to refinance your present mortgage, your best bet is to work with a seasoned mortgage professional who is knowledgeable about mortgages in the area. Working with a mortgage agent can help save you a lot of money over the amortization or term of your mortgage period. Speaking with an independent mortgage broker will allow you to take advantage of the best interest rates out there, therefore saving you thousands of dollars in interest on your mortgage over the term.
Mortgage brokers have access to hundreds of lending products from lenders across Canada who have a variety of rates and packages that they offer to potential clients. Utilizing the services of a mortgage agent can help you track down the right lender who will offer you the lowest rate possible, and the best terms available for your home loan. You only need to fill out one application and they shop your Ontario mortgage package. Contact a professional agent like Lee Anne Taylor of Dominion Lending today and see how you can get approved for a low interest mortgage so you can successfully invest your money in the real estate market in Burlington and Oakville. Learn more about mortgages Milton, Oakville, Burlington and surrounding areas by visiting: www.homeloansontairo.ca.
A Mortgage Refinance Can Help You Pay Your Debts Faster
There are many Canadians out there who find themselves with a lot of outstanding debt at high interest rates that make it very difficult to pay off. If you are one of those individuals who finds it hard to keep up with monthly bill payments and impossible to save for retirement, or is in need of money for large expenses, then mortgage refinancing can be the answer for you.
What Is Mortgage Refinancing?
Mortgage refinancing refers to a process where your existing mortgage or mortgages are replaced with a new mortgage. This new mortgage will completely replace your previous mortgage(s), usually with a completely new set of terms and rate. If you are a resident of Milton, a mortgage refinance process will provide with a new amount of money to pay off your original mortgage on your Milton home. Chances are, you have been earning equity with Milton as one of the fastest growing cities in Canada, with house prices rising each year.
What Are the Advantages to Refinancing?
Essentially, a mortgage refinance can help you use the equity in your home to reduce your overall monthly payments and pay down higher interest debt. Sometimes the current interest rate is much lower than the interest rate you locked into with your first mortgage. By refinancing, you can use your new mortgage at the lower rate to pay off the first mortgage, which will put more of your monthly payments toward your principal rather than your interest portion. Being a secured loan, the interest rate will be considerably less than credit card or store card rates, which can run as high as 30%.
If you require extra funds to pay for large expenses, such as your child’s education tuition or home renovations, you can ‘cash out’ some of the equity in your home through a mortgage refinance process. You would refinance your mortgage for a higher principal amount in order to access the extra capital to pay for these expenses. You can also use these funds to pay off other high interest debts, such as credit card bills, in order to relieve yourself of multiple monthly bills and payments.
If you find yourself in stressful financial situations, consider refinancing your mortgage to help reduce your bills and pay them off faster. Consult with a professional mortgage agent, such as Lee Anne Taylor of Home Loans Ontario, and put some money back in your pocket. Mortgage agents are the most qualified professionals to negotiate the best mortgage package for you and explain all your options. Call her for a free assessment at (905) 336-8948.
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