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GREATER SAVINGS WITH A LARGER DOWN PAYMENT WHEN YOU BUY BRAMPTON REAL ESTATE.

 

The size of your down payment, when you purchase a Townhouse or Condo for sale, can vary depending on the type of mortgage. Down payments generally range from 5% to 25% of the purchase price. To obtain a conventional mortgage , home buyers are required to put down at least 20% of the purchase price. If you don't have the full 20% down payment, you can choose a high-ratio mortgage and buy a home with a down payment of as little as 5% . This option is called a high-ratio mortgage and it requires you to purchase default insurance. Whether you choose a conventional or a high-ratio mortgage, one thing is almost always certain: the larger your down payment, the more you save in the long run. A larger down payment -- Reduces the amount of your monthly principal and interest payment Reduces the total amount of interest you pay over the life of your mortgage ASK ABOUT THE RSP HOME BUYERS PLAN The RSP Home Buyers' Plan (HBP) lets a first-time buyer withdraw up to $20,000 from RSPs for a home purchase. The withdrawn amount must be repaid within 15 years, subject to a minimum annual repayment that is 1/15 of the amount withdrawn. If the full $20,000 is withdrawn, the minimum annual repayment is $1,333 . If less than the minimum is repaid in any particular year, the balance is added to the taxpayer's income. Want more information? Check the Canada Customs and Revenue Agency Publication . INSURING YOUR CMHC HIGH RATION MORTGAGE CMHC may insure a mortgage for up to 95% of the lending value of the house. Therefore, purchasers only need a 5% down payment. Eligible borrowers include anyone who buys a home in Canada intending to occupy it as their principal residence. Purchasers can use up to 32% of their gross family income for payments of mortgage principal and interest, property taxes and heating. A buyer's total debt load (including consumer loans, etc.) cannot exceed 40% of the gross family income. People who insure a mortgage loan with CMHC pay an application fee and a premium. The application fee ($75 - $235 ) covers the costs incurred by the insurer to review the application. The insurance premium is based on the down payment and loan amount and typically ranges from 1.00% to 2.75% of the principal amount of your mortgage.

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Homes for sale in Brampton

Search all homes for sale in Brampton, Ontario from this site.  This site also offers homes for sale in Mississauga, Oakville, Toronto and Burlington, Ontario.  It will also show real estate in the greater GTA (Toronto real estate).

Brampton is a fabulous city to live in.  Not only are the prices for homes for sale in Brampton very reasonable compared to Toronto real estate but there is also such a wide choice of different living styles to choose from.  Brampton real estate truly does offer something for everyone.

If you are thinking about shopping for real estate in Brampton, Marlene Wright and the team at Sutton Group Summit Realty will help you facilitate your move to your new home.  Of course, using the services of our professional real estate buyer's agent is completely free to you.  You will not need to pay a dime out of your pocket.

Brampton Real Estate Sales

With such a vital decision on your mind, the stress of searching for a house can be taken care of by Marlene and her team of professionals at Sutton Group Summit Realty Inc..  We live and breathe Brampton Real estate every day.  We can help you by providing assistance with making sure that you get the best possible place for the best possible price by putting our strong negotiating skills to work for you.

We can work to assure that you will definitely experience a smooth, efficient and stress free property purchase transaction.

When it comes to homes for sale in Brampton, Marlene has been 39+ years in real estate and will be here every step of the way to answer all your questions and to help you make the most informed decisions possible.

If you are selling a home or any type of Brampton Real estate, you have come to the right place.  Your home will be advertised world wide on thousands of real estate websites across Canada including MLS.CA, Sutton.com and many others.    We are professionals at selling homes in Brampton because that's what we do for a living on a full time basis.

Brampton Real Estate, and Real estate for sale in Brampton, Oakville Real estate, Toronto and the GTA

If you are curious about a sound real estate investment, look no further than Brampton and Oakville, Mississauga and the GTA.  Over my 39+ years in real estate Homes in this area have a proven track record and shown that Brampton real estate is a good investment.

Royal LePage Terrequity Realty, Brokerage, independently owned & operated. If your looking for Brampton real estate or homes for sale in Brampton. Townhouses and condos for sale in Brampton, Mississauga homes for sale, Mississauga condos for sale, Townhouses for rent in Mississauga. Brampton Real estate, Oakville Real Estate, Toronto Real Estate, Burlington Real Estate.
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