With a population of over 342,000 residents, the affluent city of Markham provides future home owners with ample space to buy or build their dream homes. The city’s proximity to Toronto is a selling point for many Ontarians looking to settle down there. Plus, the thriving tech and business industry in Markham offers plentiful employment leading the city to be one of the top destinations for Canadians and foreigners alike to buy a home. If you’re one of the many people hoping to purchase a house in Markham, you will greatly benefit from contacting a realtor.
The Real Estate Council of Ontario (RECO) is a resource that future and current home owners can use to find a mortgage professional to help them buy or sell a house. RECO regulates realtors across Ontario to ensure they meet and exceed industry standards. When looking at property in a specific part of the Greater Toronto Area, it is best to work with a real estate agent who knows the region. A realtor who is familiar with Markham, and who has a strong track record of success in the city, can offer great insights and advice while finding a home for you to purchase that is within your price range.
Once you have found the ideal Markham property to buy, you will need to secure funds from a lending institution. Like a local real estate agent, a broker who has a vast knowledge of the city can offer important information about the Markham housing market. Their job is to represent your financial interests to their network of lenders to find one that is your perfect match. Your mortgage broker will not only get you the best lending package, but also the best interest rate because they’re not tied down to one lender.
Fast Facts About Markham:
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