The Real Estate and Mortgage Show - May 23
Steve Gregory, Frank Napolitano, Paul Rushforth and Barb Kramer, Mortgage Agent at Mortgage Brokers Ottawa take all of your real estate and mortgage questions on The Real Estate and Mortgage Show.
On this week's episode of The Real Estate and Mortgage Show, Steve, Frank, Paul & Barb discuss the attachment sellers have when attempting to sell their home which can affect the length a home can take to sell, the value of finished basements in town homes versus single detach homes and Frank recaps today's mortgage rates.
Barb mentions that the percentage of Canadian 65 years old and over, that have a mortgage is 35%. Though most of them have a very low loan-to-value. Frank suggests obtaining a pre-approval to lock in a rate for the next 120 days as this should last you until the end of the busy real estate season, when rates are expected to rise. Frank also speaks with customers over the phone regarding porting & blending your mortgage and explains how you can get out of your mortgage early to be in a strong position to regain negotiating power, versus being stuck and forced to take what the lender offers you.