Ontario Land Transfer Tax

Featured

Ontario Land Transfer Tax

Ontario Land Transfer TaxOntario Land Transfer Tax is charged to the homebuyer and applies whenever a land or an interest in land in Ontario is purchased,

The applicant buyer pays the Ontario’s land transfer tax at the time of purchase, the term “land” includes any buildings, buildings to be constructed, and fixtures (such as light fixtures, built-in appliances, and cabinetry).

Land transfer tax is normally based on the amount paid for the land, in addition to the amount remaining on any mortgage or debt assumed as part of the arrangement to buy the land.

In some cases, land transfer tax is based on the fair market value of the land, for example, where:

  • The transfer of a lease with a remaining term that can exceed 50 years
  • The transfer of land is from a corporation to one of its shareholders, or
  • The transfer of land is to a corporation if shares of the corporation are issued.

Current Ontario Land Transfer Tax rates as of January 1, 2017

Current Ontario Land Transfertax RateFirst-time homebuyers rebate

Up to December 31, 2016, first-time homebuyers qualify for up to 2,000 land transfer tax rebate.

Ontario Land Transfer Tax rates as of January 1, 2017

Ontario Land Transfer Tax Rate

From January 1st, 2017 onwards, the new Ontario Land Transfer Tax for first-time home-buyers will be exempted on the first 368,000 of a land purchase price and first-time home-buyers will also be eligible for up to a 4,000 tax rebate on the non-exempted amount.

Also from January 1st, 2017 the new Ontario Land Transfer Tax rate increases on properties which purchase price exceeds 2 Million, the increase is to 2.5% from a 2%.

An appraisal of the properties before the purchase is most likely going to be ordered.

Your opinion is welcomed at the bottom of the page.

Contact me if you have a question or need my services as your mortgage agent

Call or text 416-262-7139
Contact meApply On Line

Home Trust Secured Visa

Home Trust secured Visa signature

Home Trust Secured Visa, improve, build, rebuild, improve your credit, get all details and apply online.

Learn how it works, apply online now, get your visa in the mail soon.

Helps you improve and control your credit

This Visa reports monthly to both Equifax and Trans-Union.

To assure accurate and timely processing of this application, please review the following:

Security Deposit: The preferred method is to send a personal cheque drawn from your Canadian Bank account; third-party cheques are not acceptable. The minimum deposit amount is $500.00 and the maximum is $10,000. Please make the cheque payable to Home Trust Company.

When providing a personal cheque as a security deposit, if you know that your credit bureau is less than 6 months old, the maximum deposit amount we can accept is $1,500.00. Additionally, please also include a copy of a utility bill (which shows your name/address) or 2 pieces of photo ID (Government issued).

We can also accept a Canadian bank draft or money order. However, with this payment method, you must also include a copy of a recent Bank statement (showing your name, the name of your Financial institution, type of account (i.e., savings, chequing) and your partial account number).

Consumer Proposal: This product is available to clients in a Consumer Proposal; letter of good standing is not required.

Bankruptcy: This product is NOT available to those who are currently bankrupt, however, applicants who have been discharged from bankruptcy can apply at any time, but must include their “Certificate of Discharge” with their completed application.

Secured Visa applications along with their respective deposits/additional documents can be mailed to 145 King Street W, Suite 2300, ATTN Visa Department, Toronto, ON M5H 1J8.

Get control on your own credit, select the Home Trust Secured Visa of your choice:

No Fee Secured Visa CardLower Interests Secured Visa Card
No Fee Home Trust Secure VisaLower Interest Home Trust Secured Visa

2016/2017 CHMC housing market outlook for the GTA

Aside

2016/2017 CHMC housing market outlook for the GTA

CHMC GTA Housing Outlook Fall 20A short and easy to read summary of the CHMC study on the 2016/2017 CHMC housing market outlook can be found on this page and a link to the entire downloadable report can be found at the bottom of this post.

At any time, if you wish, you can request a one on one meeting or conversation to learn details of this educational study by phone or text dialing 416-262-7139

Mortgage rates may stay steady for the next 1 or 2 years
  • Home buying affordability may decrease
  • Toronto is the most expensive city
  • Supply will keep the resale market balanced
  • 30,000 condos in GTA
  • 2017 prices will go up 2%
  • Price growth to slow
  • Pace of construction to ease
  • Condos to dominate construction increase
  • Low inventory has led to higher prices
  • Low-rise sales trending higher
  • Unemployment and earnings growth is low
  • Bank of Canada lowers target rate
  • Price growth outpacing income growth
  • Price growth reflects sales of expensive homes
  • More transactions are in the expensive house market
  • Condo inventory above historical level
  • Growing long-term investor activity
  • Most condo inventories are bought to rent
  • Condo investors are there for a long run
  • Slower price appreciation for new condos

CHMC High Rise Starts OutLook Fall 2015

This study may be very useful for all those who are engaged in one way or another in the

May I help you with your mortgage?

housing market in the Greater Toronto Area; Whether you are seeking to purchase a home or condo in the coming 2 years or you already own a real estate property, this insight may help you to take a wise decision.

Contact your mortgage agent

Non owner occupied rental mortgage

Non Owner Occupied Rental

The non owner occupied rental mortgage loans help you qualify by adding the monthly rental income to your current income. As a result you are able to purchase or refinance a rented property and let the property pay for itself with the rent

Scenario: You currently have a steady job or business, a decent credit score, some savings but no time to start another business or job, and you would like to earn residual income from a real estate property.

The non-owner occupied rental mortgage is designed for those who would like to become real estate investors.

Call or text 416-262-7139
Contact meApply On Line

Mortgage

MortgageMortgage is a registered agreement in a land titles office where security interest in a specific real property is held by a lender as a security for debt repayment by the borrower, a debt pledge

Each mortgage is a claim against the property; should the property be sold or foreclosed each claim is satisfied in order

What kind of mortgage can I help you with?

MortgageSecond MortgageRefinance
Reverse mortgageHome Equity Line of CreditCommercial Mortgage

First mortgage: is the first loan registered in the title against the property

Second Mortgage: Is the loan that is registered second in time in the title against the property, is normally used to trade high credit card debts that carry high-interest rates for a low mortgage rate that eventually will reduce the cost of borrowing making it easier to eliminate that debt

A Mortgage can be conventional or high ratio
Conventional mortgage: Usually when a borrower contributes a 20+% of the value of the property
High ratio mortgage: Usually when a borrower contributes less than a 20% of the value of the property

A Mortgage can be open or closed:
Open: Allows the borrower to repay all or part of the principal at any time without penalties
Closed: Does not allow any prepayments or early repayments of the mortgage

There are different types of mortgage loans because they try to satisfy different needs according to the borrower’s lifestyles and affordability.

Call or text 416-262-7139
Contact meApply On Line

Toronto Mortgage Agent

The Toronto mortgage agent of Mortgage Edge to get your first, second mortgage or line of credit that you need, apply online and deal with many mortgage lenders

Mortgage AgentWe can save you thousands of dollars on your residential mortgage, complete your online application, click on the top right banner now

From your TMortgage Broker - Mortgage Edgeoronto mortgage agent, you have quick personalized service and get your mortgage loan approved.

Don’t worry about your credit, submit your online application and let’s get it done now!

If you already own a property, request a property value & comparable sales report when you complete your online mortgage assessment

If you have questions about what type of mortgage you need, learn about the following mortgage products

MortgageSecond MortgageRefinance
Reverse mortgageHome Equity Line of CreditCommercial Mortgage

Whether you are looking for a mortgage to purchase a home, refinance your existing mortgage and your other loans or credit cards in order to pay less interest, or if you are looking for a commercial mortgage to finance your business, you can call me to help you get that financing that you seek.

Toronto Mortgage agentLet’s get it done now

Request your *mortgage assessment free*, apply online and get a free one on one meeting

Call or text 416-262-7139
Contact meApply On Line

 

Home equity line of credit

Line of CreditHome equity line of credit is a mortgage loan in which the collateral is the available equity in a property, It could be a first or second mortgage

Learn how to get needed funds from the unused equity in your home with a simple online application today – “Your home equity, your funds”

What can you use your line of credit for?:

  • Consolidate debts.
  • Investments
  • Home Renovations
  • Support family in need
  • Travel en leisure

Apply for your line of credit regardless of your credit score

If it is a second mortgage, the lender doesn’t necessarily have to be the lender which facilitated the first mortgage loan.

Not all lines of credit are equal, “Your credit – Your rate”

Get your home equity line of credit before rates go up!

Ask about the new home equity line of credit just introduced by one of our major lenders to assist you with a quick approval and low rates for excellent credit or not so good credit.

Apply it online, to submit your no commitment application now click here

For a limited time, obtain your free robust Real Estate Valuation Report with your mortgage summary. Submit your online application now

A home equity line of credit can be used to finance business or consolidate commercial and credit card debts, students tuition, funeral expenses, business cash flow, vacations and more

Mortgage assessment application

Assets, debts, and property description to be completed in a separate form

Applicants that will be in the mortgage application

Applicant information

Employment and income of the applicant

If the length of the employment above is less than 3 years please complete the following previous employment information

Presenting supporting income documentation speeds up the process, response & funding time

About the mortgage being requested?

This is a secured mortgage assessment application request


 

Call or text 416-262-7139
Contact meApply On Line