Mindblown: a blog about philosophy.
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New mortgage rules will significantly lower down payments on properties costing $1M or more
Under new federal rules effective in December, the down payment for a $1-million home will decrease to $75,000 from $200,000. The changes aim to ease entry into the housing market, especially in urban areas with high prices. Buyers of homes under $1-million can make a down payment of less than 20% but must obtain mortgage…
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Tips for First-Time Buyers: Understanding the Condo Market | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
First-time buyers face challenges, including navigating documents and understanding condominium or strata living complexities.Condominiums offer affordability, amenities, and convenience, but rules, expenses, and disputes can complicate ownership.
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Mortgage Flexibility: Open vs. Closed Options | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Mortgage Types Overview: – Closed mortgage: lower rates, less flexibility – Open mortgage: higher rates, greater flexibility Closed Mortgages: – Fixed rates, less flexibility in payments – Prepayment allowed up to 10-20% annually – Penalties for early payoff: 3 months’ interest or rate differential
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Why Is Fall the Perfect Season for Homebuyers? | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Fall sees fewer homebuyers, reducing competition and easing the purchasing process. Home prices often drop in the fall, benefiting buyers with potential savings.
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First Home, Smart Moves | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Assess Financial Health: Understand your budget, credit score, and debts before starting your home search.Get Mortgage Pre-Approval: Secure pre-approval to define your budget and show sellers you're serious.
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BoC Warns Not to Renew Mortgages by 2026 | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
76% of mortgages due for renewal by end of 2026. Variable rate mortgages risk negative amortization, increasing principal balances.
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National Day for Truth and Reconciliation | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences. It's a symbol of Canada's commitment to reconciliation with Indigenous communities. Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools. May this day inspire a future where every voice is heard, and every spirit…
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Understanding the Real Estate Market
Real estate market tips for buyers and sellers include understanding economic conditions, interest rates, and demographic trends. For buyers: set a budget, research neighborhoods, engage a real estate agent, and conduct thorough inspections. For sellers: set the right price, enhance curb appeal, stage the home, and market effectively. Probate lawyers are essential for handling property…
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Fall Home Selling Tips: Make It Work for You! | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Focus on Fall Curb Appeal – Keep the lawn pristine and shrubs trimmed – Add fall-themed floral accents like potted mums Highlight Home Maintenance – Inspect and clean the HVAC system – Service the furnace – Clear gutters of leaves and debris – Ensure windows and doors are sealed
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New HBP Rules: Boosting Your Down Payment | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
The Home Buyers’ Plan (HBP) now allows first-time buyers to withdraw up to $60K from their RRSPs. The HBP repayment grace period has increased to five years for withdrawals made between 2022 and 2025.
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