Refinance Mortgage Options Your home can be a source of extra financing to help meet your goals, whether you want to renovate or repair your home or help pay your child’s college or university tuition. Refinancing your mortgage can be advantageous, particularly if you’re planning a major renovation. You may be able to borrow up […]
Adjustment Date: The day you become responsible for the fees or cost associated with the property. Your lawyer will prepare a statement of adjustments pro-rating any pre-paid taxes, monthly maintenance fees if applicable and any other costs that may have been paid in advance or owing. Amortization: The period of time required to reduce a […]
GST: If you buy a newly constructed home, you must pay the 6% GST. However, if your house is less than $450,000 you may be eligible for a rebate. There is no GST on resale housing unless there have been substantial renovations to the property. Property Transfer Tax: This tax is 1% on the first […]