Saturday, June 17, 2023

17th June 2023 Curated GTA Real Estate Headlines Daily Recap

Saturday 17th June 2023
Buy With Low Or Zero Down Payment!

Curated GTA Real Estate Headlines: Daily Recap!

"Toronto Real Estate: A Daily Roundup of News and Analysis."

GTA Real Estate is a dynamic market that is constantly evolving, and it's important to stay on top of the latest trends and developments. Our daily newsletter, "GTA Real Estate: What You Need to Know Today!" is designed to help you do just that. We curate the most important news, updates, and insights from the industry and bring them straight to your inbox every day. Whether you're a buyer, seller, investor, or real estate professional, our newsletter provides valuable information that can help you make informed decisions in this fast-paced market. From new developments and hot listings to mortgage rates and regulatory changes, we cover it all so you can stay informed and ahead of the game. Subscribe now to get your daily dose of GTA Real Estate news and stay ahead of the curve!

In Canada, there are a few options for low or zero down payment mortgages, but they often come with stricter eligibility criteria. Here are a few options to consider:

  1. Canada Mortgage and Housing Corporation (CMHC) offers a program called the First-Time Home Buyer Incentive, which provides a shared equity mortgage of 5% (or 10% for new construction homes) to qualified first-time homebuyers. This allows buyers to reduce their down payment and monthly mortgage payments.

  2. The Home Buyers' Plan (HBP) allows eligible first-time homebuyers to withdraw up to $35,000 from their Registered Retirement Savings Plan (RRSP) tax-free to use towards their down payment.

  3. Some lenders offer low or no down payment mortgages, but they typically require a higher credit score and income, as well as additional insurance fees.

It is important to note that while a low or zero down payment mortgage can help with upfront costs, it may result in higher monthly mortgage payments and additional insurance fees. It is important to weigh the pros and cons and discuss all options with a qualified mortgage broker or lender.

Before and After: How a $360,000 renovation transformed a Junction shack into a sparkling family home
Many potential homebuyers may wait for rates to drop before buying
How to Invest in Florida Real Estate as a Canadian
Canadian Real Estate Market Strength Unlikely To Last: RBC - Better Dwelling
Housing affordability crisis requires "all hands on deck" response: CMHC
Canada’s Housing Starts Fell 23% In May: CMHC
Technology has made home buying a lot easier
How big should my down payment be? - Perch
Canadian housing market getting hotter, will BoC be forced to cool it?
May 2023: Supply and demand balancing act for Canada's RE market
House with lucky address sells for $550K over asking in less than 48 hours
House of the week: Mississauga home comes with pool, sauna and cabana | insauga
This $4 million Toronto home is an original 'Painted Lady'
Canadians opting for shorter mortgage terms as they hope for declining interest rates - BNN Bloomberg
Fixed mortgage rates surge again, pushing rates under 5% to the brink - Mortgage Rates & Mortgage Broker News in Canada
This is what a $5 million celebrity home looks like in Toronto
Toronto's mountain range-shaped condo is turning heads with construction
Canada housing market: What's in store for the rest of 2023?
Another Bank of Canada hike is on the way, says TD
Refinancing mortgages could help those in ‘dire need’ of debt relief. What to know - National | Globalnews.ca
Household debt level rises as interest rates bite into cash flow
Rental inspection checklist for landlords | liv.rent blog

Editor's Note

"Welcome to my Newsletter Page! I am a professional Real Estate Agent in Toronto GTA with an Architectural background from India. With a unique combination of design and real estate knowledge, I am dedicated to helping clients find their dream home. My expertise in both fields allows me to understand the potential of a property and how to best showcase it to potential buyers. I am committed to providing excellent service and going above and beyond for my clients. Let me help you navigate the real estate market and find your perfect property in the Greater Toronto Area & Surroundings. Contact me today!"

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Manoj Atri, REALTOR® 
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