Seta Manukyan Realty

RATE DROP!

In case you haven’t heard, fixed rates (the more popular mortgage option for canadians) have gone down about 70 basis points (0.70%) from their highs of last year.

You can now secure 5-year fixed rate mortgages for as low as 4.9%🔥

If you’ve been thinking about buying, this might be the sign you need to get in touch with an agent and start exploring your options!

📲 (647)-867-7216
💌 [email protected]

GET A BRAND NEW UNIT IN THE HEART OF NORTH YORK🔥

Nordic Condos is in the heart of the Tippett Redevelopment zone right by Wilson and Allen Rd. This area is going through a MASSIVE transformation funded by all 3 levels of the government (if the government is investing in the area, why wouldn't you?!)

Secure a 527 sq ft 1+den unit for only $550,000, including builders upgrades. The unit is set to be complete in early 2024.

Closing is not schedule until later in the new year giving you the time to wait for interest rates to come down before your mortgage begins💸

Get in touch for more info💌
[email protected]
(647)-867-7216

WHAT IS NEGATIVE AMORTIZATION?📉

On a standard mortgage loan, a certain portion of the monthly payment goes to the principal balance and the remainder goes to paying off the interest. Normally, as homeowners make their monthly payments, they pay off more & more of their loan and see their balance decrease over time💸

With the 10 interest rate hikes we’ve seen over the last 2 years, this isn’t the case anymore for a lot of people.

Many borrowers in fixed payment variable rate mortgages are now seeing their mortgage balance actually GROW month to month as their payments don’t even cover the interest portion anymore.

People in this situation have the option to increase their payments or make lump-sum payments to bring down their loan amount.

If you’re in this situation, make sure you speak to a trusted mortgage agent or financial advisor to see what your options are and how to best navigate your mortgage🏡

(647)-867-7216
[email protected]