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Author: Daniel Simard

De Krupe Law > Articles posted by Daniel Simard (Page 5)
21 July
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Real Estate Toronto. Analysis June 2023

Posted by Daniel Simard
in Blog
Real estate in Toronto

The real estate Toronto market seems to be in for a couple of surprises in 2024. We decided to discuss them with skilled De Krupe LawToronto real estate lawyers. They gave us valuable advice based on the latest data, so we are here to share it with you! Quick Summary In the summer of 2023, national real estate sales staggered slightly, falling 1.5% from the previous month. This decline is less than the drop we saw in April and May, and sales activity was 4.7% lower than in June 2022. The number of new offerings on the market was down 5.9% for...

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11 July
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Accelerate Your Mortgage Repayment: 5 Effective Strategies

Posted by Daniel Simard
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Accelerate Your Mortgage Repayment: 5 Effective Strategies

Owning a home is a significant milestone. For many, it is made possible through amortgage. Having your OWN place to live is perfect, but the burden of a mortgage repayment can linger for years. However, by adopting the right approach, you can pay off your mortgage faster and enjoy the true freedom of homeownership. Mortgage Definition A mortgage is a loan provided by a lender to finance the purchase of a property. It serves as a financial agreement between the borrower and the lender, outlining the following: The terms and conditions; Interest rate; Repayment schedule. Paying off your mortgage promptly is crucial, as it provides you...

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05 July
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The Importance of a Good Credit Score for Your Mortgage Refinance

Posted by Daniel Simard
in Blog
Illustration of Good Credit Score for Mortgage Refinance

Whenrefinancing your mortgage, having a good credit score is your number one priority. After all, it's what shows that you're a responsible borrower. It plays a huge role in determining the interest rate you’ll receive, the loan terms available to you, and even your eligibility for refinancing in the first place. Understanding Credit Scores A credit score is a representation of your creditworthiness. It directly reflects your past financial behaviour, showing how likely you will be actually repaying the borrowed funds. The most commonly used scoring model is theFICO score, which ranges from 300 to 850. The higher your score, the higher...

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26 June
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The Impact of Canada’s Two-Year Ban on Foreign Home Buyers on Real Estate: What You Need to Know

Posted by Daniel Simard
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The Impact of Canada's Two-Year Ban on Foreign Home Buyers on Real Estate: What You Need to Know

The Canadian real estate market has been a topic of great interest and concern, particularly when it comes to the impact of foreign home buyers. In an effort to address this issue, the Canadian government recently implemented a two-year ban on foreign home buyers. Prehistory of the Two-Year Ban Canada, known for its diverse and thriving real estate market, has experienced significant growth in property prices over the past decade. This surge in prices, especially in major cities like Toronto and Vancouver, raised concerns about housing affordability and accessibility for Canadian residents. During this period of rapid price escalation, foreign investors, particularly from countries with...

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23 June
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Real Estate Lawyers’ Perspective on Interest Rates

Posted by Daniel Simard
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Real Estate Lawyers' Perspective on Interest Rates

[toc] Interest rates considerably affect the market state quite. After all, it concerns both buyers and sellers. Mortgage experts predict market heat due to the interest rate hold, so it's vital to understand the real estate lawyers' perspective. We'll cover the opinions of real estate lawyers on interest rates, their impact on the real estate market, the implications for buyers and sellers, and the advantages of consulting a Toronto real estate lawyer. Understanding Interest Rates in Real Estate Interest ratesare the added cost of borrowing money from financial institutions when you buy a property. They depend on several factors: Economic conditions Inflation rates Policies of the...

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