Halfway between Toronto and Detroit, lies the populous city of London, Ontario. With 366,151 residents, many green spaces, restaurants, shopping and more, the city has no shortage of culture and heritage. Besides its charm, London provides a variety of housing choices for those looking to buy property in the city. Many Canadians consider owning their own home a great feature. Homeownership comes with many advantages such as a place to call your own and the ability to build equity. If you’re sick of renting and are ready to buy a house or condo in London, you will need to contact a real estate professional and a mortgage broker.
LSTAR, which stands for the London and St. Thomas Association of Realtors, is an organization that specializes in helping home buyers find real estate professionals to work with. You can access LSTAR online or visit one of their 134 offices. Over 1,500 realtors work under the LSTAR umbrella and are held to the highest industry standards. Once you’ve found a realtor to help you find your London dream home, you will need to find a mortgage to purchase said property.
In order to get a funding package to buy the London home you want, you should use the services of a mortgage broker. London mortgage brokers can get you better interest rates than your bank because they have a vast network of lenders at their disposal. Your broker will help you secure funding to purchase your property and ensure you get the best mortgage package to fit your economic needs. If you decide to contact a mortgage broker before you settle on a realtor, your broker can recommend a real estate agent. The same goes for realtors because they too work with other industry professionals like mortgage brokers.
Fast Facts About London:
Your home is your most valuable asset. It is probably the single largest investment you will make in your lifetime. Your home is more than a place to rest your head and raise a family. Your home contains equity. It is a treasured resource and in some cases, can even be used as an ATM (aka cash back mortgages and HELOCs – don’t worry we’ll get there).
Everyone who is looking to purchase a home will need a mortgage. But, what is a mortgage exactly and why do you need it? Besides being the term to describe a loan secured by real estate, a mortgage allows you to access funding to procure your dream home.
There is a massive difference between mortgages and home equity loans. Read More
The Bank of Canada had hiked the interest rates on three separate occasions over the past eight months. Read More
Many first time home buyers have heard the term “mortgage insurance” but may not understand what it is and why it’s necessary to have. Read More
For new homeowners, or for those looking to renew a lease, rising interest rates will have an effect on your finances. Read More