March 16, 2007
Posted April 30, 2007 12:00 pm.
This article is more than 5 years old.
MonsterMortgage.ca
A caller to Hot Property wanted to know if the lending institutions check your credit again and your employment status when you go in to renew your mortgage. “If you’re moving your mortgage from one bank to another they will look at all that information again,” Don Bayer explained. “If you’re staying with your existing institution and you’ve made your payments, they will not check your credit, although they have the right to.”
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Daniel Ellenberg
Toronto’s real estate expert! Serving the GTA’s real estate needs since 1989! When you think of hot areas in the city to buy property, East York isn’t usually one of the first places that comes to mind, but Dan Ellenberg of Sellwithdan.com mentioned a great home in a great area for an affordable price. “A brand-new property, never lived in, almost 2,000 square feet, three bedroom town house, corner unit for $300, 000,” he explained. “Eglinton and Danforth road, an area that hasn’t seen much development and lately has been experiencing a lot of development . a lot of interesting projects are going in terms of restaurants, shop and talking about the new light rapid transit line.” And the fact that this property is actually affordable at $339,000.
Tridel
A caller to Hot Property looking to purchase an investment property wanted to know the pros and cons of buying a condominium as opposed to a townhouse. He’s looking at buying either a townhome in the Pickering area or a condo in the King West neighbourhood. “Pickering, (you’re) probably looking more at if you’re investing to rent out the property, a family either commuting into Toronto or working in the Pickering area,” Scott McLellan of Tridel explained. “King West is one of the hot spots in downtown Toronto. Very cool place to live and attracting a lot of buyers in their late 20s about early 30s and will continue to . If you’re looking for a condo to rent out, it would take you two, three days to do that.”
