Mortgage Solutions By Militsa
507 Danforth Ave 2nd Floor M4K 1P5 Toronto, ON, Canada

https://www.zoocasa.com//condo-downpayment-vs-rent-toronto/

Land Transfer Tax Data from across the country thanks to Zoocasa for the info. https://www.zoocasa.com//how-land-transfer-tax-impacts-ho/

This would be a much needed boost! https://ca.finance.yahoo.com//bank-canada-cut-rates-end-20

Thank you to all of my customers for helping me achieve Top 20 in Canada for 2018!!

NEW 2018 MORTGAGE RULES Conventional mortgages must qualify at the government benchmark rate (currently 5.14%), or your contract rate plus 2%, whichever is higher. Ask about strategies to get around the new rules!

It’s easy to get caught up in home buying frenzy and just focus on finding that perfect home. During all that excitement, be sure to take some time to get acquainted with a few key terms. Here are the four types of insurance you’ll encounter. HIGH-RATIO MORTGAGE INSURANCE If your downpayment is between 5% and 20%, you are required to have high-ratio mortgage insurance. This insurance is there to protect the lender, and the premium is almost always added to your mortgage a...mount. Example: Purchase price is $400,000 and you have 5% downpayment, for a total mortgage amount of $380,000. The mortgage insurance premium is 4% or $15,200, which is then added to your mortgage. The insurance premium declines at 10% and at 15% down. If you’ve saved up more than 20% of the purchase price, then you don’t need this insurance unless it’s required by the lender. TITLE INSURANCE Having title means you have legal ownership of property. Title insurance protects owners and their lenders against losses related to the property’s title or ownership, such as: unknown title defects, liens against the property’s title, encroachment issues, title fraud, survey errors, and other title-related issues that can affect your ability to sell, mortgage or lease your property in the future. Premiums are collected upon purchase and based on the value of the property. HOME & PROPERTY INSURANCE This must-have insurance protects against risks to your property and contents in the event of fire, theft and some weather damage; it also includes liability insurance in the event that someone is hurt on the insured property. Most lenders require proof of home insurance, so be sure to have your policy in place after your offer is accepted and before your closing date. MORTGAGE LIFE INSURANCE In the event of death, this insurance will pay the insured balance of the mortgage, discharge fees and prepayment penalties to the lender, and leaves the property with little or no mortgage for the surviving family or estate. There are many reasons to strongly consider this coverage because anything can happen at any age and at any time. Premiums are calculated based on age and the original mortgage balance. Insurance can protect you and your family throughout your home ownership journey. If you are unsure about something, get in touch. We are here to make sure your journey is a great one. ________________________________________

Happy Birthday Canada!

Condo boards right now are a bit hesitant to get onboard with [electric vehicles]," says Clairman, adding that presents a practical problem for condo dwellers since most want to charge their vehicles at home overnight when it is most convenient and the cost of electricity is lowest. http://www.cbc.ca//ontario-hopes-revised-condo-act-ev-frie

Customers continued to abandon CIBC while publicly denouncing the bank and its CEO Victor Dodig. https://thinkpol.ca//04/06/cibc-shares-fall-as-boycott-bi/

February was a record breaking month for new condo apartment sales in the GTA http://bildblogs.ca/record-month-for-condo-sales-as-low-ri/

Highlights of the Federal Budget from Deloitte, 2017 Federal Budget Instant Reactions Public transit tax credit to be eliminated...Continue reading

"Before we pin a tax on foreigners, we need to address the elephant in the room and that's the lack of housing supply" - Tim Hudak http://business.financialpost.com//ontario-puts-foreign-bu .

Thank you to all of our amazing Clients, Lenders and Business Partners for an awesome 2016! We share this award with all of you!

Don Mills and Eglinton, see whats planned at North York's Celestica site re-Imagined as 'Wynford Green' http://urbantoronto.ca//north-yorks-celestica-site-re-imag

"You don't know what it's like to go to bed at night, knowing your job is now to set people up for financial failure," says the teller, her voice cracking. http://www.cbc.ca//td-tellers-desperate-to-meet-increasing

Need a source for Construction Funds? Call us today, we can help. We just recently placed a deal for this site in Scarborough. Wait until you see the finished product!

This slide, courtesy of Urbanation will help us all understand the current supply side problem.

Why mortgage before March 17, 2017? If you’re in the market for an insured mortgage, then you might want to get that mortgage before March 17. Canada Mortgage and Housing Corporation (CMHC) is raising premiums for insuring mortgages on Canadian homes for the third time in three years. Canadian homebuyers are required to have mortgage insurance if they have less than a 20 per cent downpayment. The insurance provides protection for the lender in the case of a default. How will... it hit your wallet? The increase is not too significant for those making the minimum downpayment required. A homebuyer with a $250,000 mortgage and a 5 per cent downpayment will pay about $5 per month more in insurance premiums. I can calculate exactly how much the increase will mean to you if you get your mortgage approval on or after March 17. The increases are actually more substantial for larger downpayments of 15 per cent or more. Those with 20 per cent or more downpayment aren’t required to have mortgage insurance, although it’s used by lenders that securitize their mortgages. As a result, any increased cost will likely be passed on to customers through higher rates. Premiums are also increasing for non-traditional insured mortgages i.e. home buyers with borrowed downpayments, a type of mortgage downpayment that could grow in popularity as homebuyers strive to gain entry in the housing market. The premium change will come into effect on March 17. Homebuyers will be able to access the current lower rates if they have bought a home and are approved before the March 17 deadline, even if they have a later closing date. If you are looking to buy, get in touch today! See more

CMHC homeowner mortgage loan insurance premiums are changing. New fee structure effective March 17, 2017.

http://www.mortgagebrokernews.ca//real-estate-board-launch The City of Toronto is, once again, proposing an increase. "The proposal includes; a $750 increase for all repeat home buyers, a $475 increase for first-timers, and a $4,475 hike for some first-time buyers."

Steven Smith -First National CEO on Ottawa's new mortgage rules http://www.bnn.ca//big-banks-win-alternative-lenders-lose-

Happy to have sponsored and enjoyed the day at Pipers Heath Golf Club in support of the 2nd Annual Mina Tadros Memorial Golf Tournament

http://sixsecondsafety.com/en/

With other centres taxing foreign investment, Ontario will have little choice but to do the same, http://business.financialpost.com//ontario-has-little-choi

"In fact, a new flood of money into the global economy from central banks in an attempt to counteract the depressing effect of the Brexit vote only makes putting cash into real estate a sounder financial investment." http://www.cbc.ca//house-prices-brexit-negative-interest-1

This is not going to make my husband Phil Fiuza very happy!! Other Downtown commuters take note. 29-Jun-2016 Richmond Street reduced to one lane between Church and York for TTC track work starting Monday... Toronto's Richmond Street from Church Street to York Street will be reduced to one lane of traffic from July 4 to November 30 for TTC track replacement work, watermain replacement and road and sidewalk repairs. Richmond Street is a one-way street, westbound. Signs will be posted to assist cyclists travelling in the area of the construction work. Cyclists will share the north lane with vehicles or can detour and use Queen Street West, King Street West or Wellington Street West. There may be times when work shifts into Richmond Street's north lane, at which time, for safety reasons cyclists may choose to use an alternative route to avoid streetcar tracks on that part of the roadway. Construction hours on this project have been extended to include some 24/7 activity and intersection lane restrictions on weekends. The most disruptive and noisy work will end by 11 p.m. each night. Traffic-signal timing on parallel routes is being adjusted and enhanced signage is being used in the area to help minimize traffic disruptions. Access to businesses will be maintained throughout the construction period.

City of Toronto Construction Information http://www1.toronto.ca/wps/portal/contentonly

Toronto identifies areas where ticks that cause Lyme disease are found - Toronto - CBC News http://www.cbc.ca//toro/ticks-lyme-disease-parks-1.3575190

Heads up everyone!! Don Valley Parkway closed this weekend for annual spring maintenance The parkway will be closed in both directions between Highway 401/404 and the Gardiner Expressway from 11 p.m. on Friday, April 15 to 5 a.m. on Monday, April 18.

CMHC Toronto and Vancouver Condo Owners Report A small share of Condo Owners (8% of all condo investors) anticipate holding their unit for less than 2 years. So much for the outrage on "Flippers" http://www.cmhc-schl.gc.ca///nere/2016/2016-04-05-1100.cfm

https://vimeo.com/158195287 Want to learn more about Reverse Mortgages? Call us and we can help you throught the process.

2015 Invis/MI Award winning Team. Way to go everyone!!

Thank you Invis/MI for the recognition today and the wonderful lunch.

March Break is coming up. City of Toronto offers Free and affordable activities. During March Break, March 14 to 18, the City of Toronto will offer free and low-cost activities at its community centres, parks and historic sites. Highlights of Parks, Forestry and Recreation division activities and attractions follow, in addition to information about Toronto's historic sites/museums. Camps ...Continue reading

MyWaterToronto is a convenient way to view your water use information anytime, anywhere, from your computer or mobile device. Log-on to MyWaterToronto and view your total and average water use by day, week, month or year in an easy-to-read graph or chart format. Check the boxes to add in extra details, such as temperature and precipitation, to better understand why you may have used more or less water during a particular time period http://www1.toronto.ca/wps/portal/contentonly

New mortgage down payment rules started today

Late mortgage payment charges contrary to Interest Act, court rules writes Bob Aaron, a Toronto real estate lawyer. He can be reached at [email protected] , on his website http://aaron.ca/ aaron.caEND and on Twitter https://twitter.com/bobaaron2 http://www.thestar.com//late-mortgage-payment-charges-cont

Do you own a rental property? Multiple tenants? Make sure you are in compliance with the Fire Code! Toronto Fire Services lays charges after conducting a post-fire inspection to determine compliance with the Fire Code. ...Continue reading

3rd - Record number of apartments under construction over the last 2 to 3 years has not created a glut of inventory as speculated by many. Increase in listings was met by an increase in sales resulting in inventory levels trending lower over the last year.

2nd -First-time home buyers accounted for more than half (53%) of GTA home purchases In the City of Toronto, the first-time buyer share was above the GTA average at almost 60%, while in the surrounding regions this share was below the GTA average, at approximately 47%

TREB 2016 Outlook Report is out. Lot's of great tidbits to be passed along. 1st - Seller's market conditions will persist in GTA in 2016. Strong competition between buyers will result in an average selling price of between $655,000 and $665,000 representing year-over-year increases of between 5% and 7%.

The Canadian economy desperately needs government stimulus spending, the central bank might be forced to cut rates the longer it takes details about the package to be revealed. http://business.financialpost.com//chance-of-rate-cut-risi

Adam White, President of the Association of Major Power Consumers in Ontario, Friend and Neighbour contributed this piece to the Globe and Mail yesterday on the effects of increasing Hydro prices on Manufacturing in Ontario http://www.theglobeandmail.com//ontarios-/article27740995/

And there you go!! Effective February 15, 2016, the minimum down payment for new insured mortgages will increase from 5 per cent to 10 per cent for the portion of the house price above $500,000. The 5 per cent minimum down payment for properties up to $500,000 remains unchanged.

The federal government is expected to tighten mortgage rules on Friday in an effort to cool the red-hot housing markets in Toronto and Vancouver. http://ca.reuters.com/ar/domesticNews/idCAKBN0TT31220151211

The current price of a barrel of oil and its effect on Alberta Real Estate http://business.financialpost.com//free-rent-for-a-month-c

Lanterra Developments President and CEO Barry Fenton Downtown Toronto Condo values will rise 30-40% within the next few years http://www.bnn.ca/Video/player.aspx?vid=762365

Low interest rates and low inflation are here to stay, says author and actuary Fred Vettese! http://www.thestar.com//why-interest-rates-and-inflation-w

City of Toronto skating rinks are opening! http://www.blogto.com//the_top_25_outdoor_skating_rinks_i/

Why use a Mortgage Broker in 30 Seconds https://www.youtube.com/watch?v=4_sP_XBEP8k&feature=youtu.be

Getting Pre Approved early!! Invis & Mortgage Intelligence Just Kidding, My special visitors for todays #oxiday #danforth #greekparade #toronto #greektown #familyvisits

Travelling in Toronto this weekend? Take Note 23-Oct-2015... Jameson ramp to westbound Gardiner closed on Saturday The Jameson ramp to the westbound Gardiner Expressway will be closed on Saturday, October 24 from 6 a.m. to 6 p.m. for preparation work required for the scheduled demolition of the Dowling Avenue Bridge on November 20 and 21. Following the demolition, the City of Toronto will install new, temporary structures while an environmental assessment is conducted for the design of permanent structures. The City plans to demolish two bridges in the area: the Dowling Avenue Bridge over the Metrolinx Rail Corridor and the Gardiner Expressway, and the Dunn Avenue Bridge over the Metrolinx Rail Corridor. This work is necessary as both bridges are approaching the end of their service life. The project is part of the Council-approved 2015 capital works program. To mitigate traffic congestion associated with Saturday's ramp closure, the City will make timing changes to traffic signals to enhance traffic flow on nearby streets and will provide real-time traffic information on the City's overhead signs. Motorists driving on streets in the area should allow extra time to get to and from their destinations during the ramp closure. The City has a web-based map to help residents and visitors make their travel plans, available at toronto.ca/roadrestrictions. Information about the City's planned capital construction work, which also affects roads, is available at toronto.ca/inview. This work is part of the City's comprehensive, co-ordinated strategy to rehabilitate and upgrade our roads, transit and underground infrastructure for current and future needs. Toronto is Canada's largest city, the fourth largest in North America, and home to a diverse population of about 2.8 million people. It is a global centre for business, finance, arts and culture and is consistently ranked one of the world's most livable cities. For information on non-emergency City services and programs, Toronto residents, businesses and visitors can visit toronto.ca, call 311, 24 hours a day, 7 days a week, or follow us @TorontoComms. Kris Scheuer Strategic Communications 416-392-4310 [email protected]

Uncertainty about China’s transition to a slower growth path has contributed to further downward pressure on prices for oil and other commodities. These factors are weighing on growth in many emerging markets and some other economies. http://business.financialpost.com//bank-of-canada-holds-ra

Thanksgiving Long Weekend coming up and we know may will be celebrating. But with the extra day off, take some time for some Autumn maintenance around the house. Have your furnace or heating system serviced by a qualified service company every two years for a gas furnace, and every year for an oil furnace. Check and clean or replace furnace air filters each month during the heating season. Remove the grilles on forced air systems and vacuum inside the ducts.... If the heat recovery ventilator has been shut off for the summer, clean the filters and the core, and pour water down the condensate drain to test it. Clean portable humidifier, if one is used. Remove screens from the inside of casement windows to allow air from the heating system to keep condensation off window glass. Ensure all doors to the outside shut tightly, and check other doors for ease of use. Renew door weather-stripping if required. If there is a door between your house and the garage, check the adjustment of the self-closing device to ensure it closes the door completely. Ensure windows and skylights close tightly. Cover outside of air conditioning units. Ensure that the ground around your home slopes away from the foundation wall, so that water does not drain into your basement. Clean leaves from eaves and roof, and test downspouts to ensure proper drainage from the roof. Check fireplace vents for obstructions such as nests and webs Drain and store outdoor hoses. Close valve to outdoor hose connection and drain the hose bib (exterior faucet), unless your house has frost proof hose bibs. Winterize landscaping, for example, store outdoor furniture, prepare gardens and, if necessary, protect young trees or bushes for winter. See more

Toronto City Councillor Gord Perks chuckled when told about the appeals. This is so ridiculous, he said. How much confidence can members of the public have if the government that created the assessment system doesn’t even agree with it? http://www.theglobeandmail.com//ontario-/article26556045/

Using the DVP on Sunday? Prepare your route now! http://www.680news.com//here-we-go-again-dvp-closed-sunda/

Is the location of your home costing you more for Auto Insurance? http://www.citopbroker.com//10-most-expensive-toronto-neig

Take your unused and unwanted household items away during COMMUNITY EVENT DAYS Check out the City of Toronto schedule here http://www1.toronto.ca/wps/portal/contentonly

Lender Golf Day. Thanks IC Savings for a great day on the Golf Course, but not a great day golfing!

Do you know that the Consumer Protection Act (CPA) gives you special rights when you buy something in your home that costs more than $50? As a consumer, you: have the right to cancel a contract for any reason within a 10-day cooling-off period. For water heater contracts, there is a 20-day cooling-off period must get a written contract: under the CPA, a consumer contract has to include specific information about the goods or service and your rights as a consumer. If it does...n’t, you can cancel the contract within 1 year of signing Need more info. follow the link on the Government of Ontario website. https://www.ontario.ca//door-door-sales-and-home-service-c

Are you looking for a Business? Investment Opportunity? Joint Venture? If you are, the City of Toronto has a Business Opportunities Bulletin Board. Check it out http://www1.toronto.ca/wps/portal/contentonly

Help keep the entire Toronto sewage system working well. http://www1.toronto.ca/wps/portal/contentonly

Rob Carrick from the Globe and Mail on how to reduce Home Insurance Premiums http://bcove.me/e0xy1f9h