Assuming a mortgage

If the buyer of a property in Ontario takes over the conditions of the seller’s mortgage (the amount owing for the remaining term at the existing rate), this is called assumption of the mortgage. As a BUYER, you need to look at this carefully. In some cases, it will work in your favour, especially if

Amortization vs Term

Amortization This is the length of time it would take to pay off the mortgage assuming: that the interest rate never changed all payments were made on time no additional payments were made In Canada the shortest amortization is usually 5 years, and the longest is 40 years. Currently very few lenders will agree to

5 Things you need to know about cap rates and multiples in valuations

By JT Dhoot The term cap rate or multiple (or some variation thereof) will sound familiar to anyone who’s tried to value a commercial property or a private business. Stakeholders such as investors, brokers, lenders and appraisers often use these seemingly simple metrics to calculate the market value of an asset. Here are five things you need

Credit Score TidBit

Here’s a tidbit of info for those that don’t know. Have you ever had a client tell you that their credit score was good because they just pulled it through Equifax’s consumer platform, only to pull a report yourself and see it way lower than your client thought? This is because the consumer is seeing