As part of the mortgage and real estate processes, there’s a lot of confusion around the differences between the deposit and the down payment. It's important to understand what sets them apart so you don’t get confused when it’s time to secure financing on a property once you have an accepted offer.
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Deposit vs Down payment
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Getting on the Property Ladder
As property prices continue to rise across Canada, the conversation around "how to climb the property ladder" has made a subtle shift to "how to get on the property ladder in the first place." Especially if you're single. Whereas before it was assumed anyone would qualify to buy a starter home (or condo), nowadays with increased housing prices and the government making it tougher to qualify for a mortgage through a financial stress test, becoming a homeowner isn't a walk in the park. Qualifying for a mortgage on a single income is becoming increasingly difficult.
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Pandemic means new home buyers are tailoring homes to their perfect fit
Original Article Source Credits: EdmontonJournal , https://edmontonjournal.com/
Article Written By: Laura Severs
Original Article Posted on: April 22, 2021
Link to Original Article: https://edmontonjournal.com/special-sections/build-design-yeg/pandemic-means-new-home-buyers-are-tailoring-homes-to-their-perfect-fit
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How Quantitative Ease Inflates Real Estate Prices, And Why It Does not Work Forever
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Stephen Punwasi
Original Article Posted on:
Link to Original Article: https://betterdwelling.com/how-quantitative-ease-inflates-real-estate-prices-and-why-it-doesnt-work-forever/
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'This doesn't look like 2017:' Bank of Canada Governor isn't worried about a housing bubble
Original Article Source Credits: Financial Post , https://financialpost.com/
Article Written By: Shelly Hagan and Theophilos Argitis
Original Article Posted on: January 21, 2021
Link to Original Article: https://financialpost.com/news/economy/bank-of-canada-governor-isnt-worried-about-a-housing-bubble
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Many Canadians continue to see growth in their biggest asset
Original Article Source Credits: Wealth Professional , https://www.wealthprofessional.ca/
Article Written By: Steve Randall
Original Article Posted on:
Link to Original Article: https://www.wealthprofessional.ca/news/industry-news/many-canadians-continue-to-see-growth-in-their-biggest-asset/336505
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Mortgage fees: Prepayment penalties
Original Article Source Credits: Canada.ca , https://www.canada.ca/
Article Written By: NA
Original Article Posted on: 2020-09-15
Link to Original Article: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
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