In Canada, the housing market is experiencing growth, with self-employed homebuyers emerging as a significant segment. Statistics Canada (StatCan) data from 2022 indicates that over 2.6 million Canadians are self-employed, representing a diverse group. This segment includes not only traditional small shop owners but also specialized professionals in fields such as IT and finance. StatCan also highlights a consistent rise in self-employment within professional, scientific, and technical services over the past three decades. This evolving diversity among self-employed borrowers necessitates a tailored approach. A one-size-fits-all strategy is inadequate given the different circumstances of convenience store owners compared to financial consultants. Brokers…

Bridge financing is a short-term loan used to cover financial gaps between the purchase of a new property and the sale of an existing property. 

When someone wants to purchase a new property but has not yet sold their existing property, they may apply for a bridge loan from a lender, such as a bank or mortgage broker. The lender will assess the borrower's financial situation and may approve the loan based on the value of the borrower's existing property and the expected sale price.

The bridge loan is typically secured by the borrower's existing property and is usually repaid when the property is sold. The loan may have a higher interest rate and fees than a traditional mortgage, due to the short-term nature of the loan and the risk involved.

It can also be used by investors who want to take advantage of a good real estate deal but don't have the funds available at the time.

It is important to note that bridge financing should only be used as a short-term solution, as the higher interest rates and fees can quickly add up. Borrowers should also carefully consider their ability to repay the loan and should have a solid plan in place to sell their existing property within a reasonable timeframe.
 

Renting an apartment in Ontario can be quite an expensive undertaking, leaving many residents wondering why they must shell out such hefty sums just to secure a place to live. For newcomers to the area, the high cost of rent can be quite shocking.

In this blog post, the expert at Nicole Tracey Mortgages will delve into the factors that contribute to the costly rental market in Ontario and how they affect tenants and landlords alike. By understanding these factors, you'll be better equipped to navigate the rental landscape and make informed decisions for your housing needs.

Buying a property is one of the most significant financial decisions you'll make in your lifetime. With the excitement and anticipation of finding your dream home comes the responsibility of ensuring a smooth and successful transaction. One important aspect to consider when making an offer is whether to include a financing condition. In this blog post, we will discuss the potential risks of purchasing a property without a financing condition and why it's essential to protect yourself from these hazards.

According to the Canadian Real Estate Association, the Spring market is anticipating a drop in home prices edging down approximately 6% from 2022, putting the average home price at $662,103 in 2023. The downward trend stems from rising interest rates and continued uncertainty in the marketplace.

Government bond yields are an important factor that can impact fixed interest rates. To better understand this relationship, we first need to define what government bond yields and fixed interest rates are.

In the current economic climate, speaking with a mortgage broker has become more important than ever. Mortgage brokers are professionals who can help you find the right mortgage product that suits your unique financial situation. They are knowledgeable about the various types of mortgages available in the market and can help you understand the pros and cons of each.

A reverse mortgage is designed to allow Canadian homeowners age 55+ to access up to 55% of their home’s value and turn it into tax-free cash without having to move or sell. The best part? There are no monthly mortgage payments required!

If you are looking towards retirement, or have elderly parents that could use some extra cash, the reverse mortgage might be the perfect choice for you! Below is some more information to help you understand the value of this great mortgage product:

Canada's inflation rate inches up again, to new 31-year high of 6.8% - - 

Hello there, thanks for stopping by! I am the proud owner of Nicole Tracey Mortgages. I look forward to sharing my story and hope you will enjoy getting to know me better.

 
Original Article Source Credits: The Beacon Herald, https://www.stratfordbeaconherald.com

Article Written By: Cory Smith

Original Article Posted on: Jun 09, 202

Link to Original Article: https://www.stratfordbeaconherald.com/news/local-news/united-way-survey-shows-need-for-more-housing-options-in-huron-perth?__vfz=medium%3Dstandalone_content_recirculation_with_ads

Original Article Source Credits: HGTV, https://www.hgtv.ca

Article Written By: Sharon Miki Chan

Original Article Posted on: Feb. 15, 2021

Link to Original Article: https://www.hgtv.ca/real-estate/blog/remodeling-trends-2021-rental-1945927

Original Article Source Credits: The Beacon Herald, https://www.stratfordbeaconherald.com

Article Written By: Kathleen Saylors

Original Article Posted on: Jun 09, 2021

Link to Original Article: https://www.stratfordbeaconherald.com/news/local-news/provincial-funding-for-oxford-county-modular-housing-development-going-forward

 
Original Article Source Credits: ecolinewindows, https://www.ecolinewindows.ca

Article Written By: NA

Original Article Posted on: NA

Link to Original Article: https://www.ecolinewindows.ca/unusual-remodeling-ideas-will-make-home-unique

Original Article Source Credits:    Ecoline Windows  , https://www.ecolinewindows.ca/

Article Written By:  NA

Original Article Posted on:  NA

Link to Original Article:  https://www.ecolinewindows.ca/how-to-make-small-space-bigger/

Original Article Source Credits: Better Dwelling, https://betterdwelling.com

Article Written By: NA

Original Article Posted on: APRIL 1, 2021

Link to Original Article: https://betterdwelling.com/canadian-mortgage-approvals-for-over-leveraged-borrowers-soars-to-a-record-high/

Original Article Source Credits:   Greedyrates , https://www.greedyrates.ca/

Article Written By:  Meagan Loose

Original Article Posted on:  May 1, 2021

Link to Original Article:  https://www.greedyrates.ca/blog/student-loan-credit-score/

Original Article Source Credits: CBC, https://www.cbc.ca

Article Written By: Pete Evans

Original Article Posted on: Apr 08, 2021

Link to Original Article: https://www.cbc.ca/news/business/osfi-mortgage-stress-test-rules-1.5979558

Original Article Source Credits: CISION, https://www.newswire.ca

Article Written By: Western Economic Diversification Canada

Original Article Posted on: Mar 16, 2021

Link to Original Article: https://www.newswire.ca/news-releases/government-of-canada-supports-recovery-and-growth-of-women-led-businesses-across-the-prairies-amid-covid-19-pandemic-885971007.html

Original Article Source Credits:   Apartment Therapy , https://www.apartmenttherapy.com/

Article Written By:  OLIVIA HARVEY

Original Article Posted on:  NA

Link to Original Article:  https://www.apartmenttherapy.com/tiktoker-facebook-marketplace-furniture-flips-36887449