Tuesday, February 16, 2010

For my 100th blogger post, I have EXCITING news!!

Back by overwhelmingly popular demand, the County of Oxford has announced another round in the Ontario Affordable Housing Program (AHP).

If you're currently renting, and you are having trouble saving for a downpayment, you may qualify for up to 10% in downpayment assistance, courtesy of the AHP.

The EXCITING news here is that this government issued assistance is available on NEW homes and RE-SALES!!! That opens the door to far wider selection of homes to consider!

Contact me today for more information, and to start looking for that perfect place!

MORE INFO HERE



Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

Tuesday, February 9, 2010

Updated Mortgage Rates, Courtesy of Dominion Lending

Hello everyone!

WOW! Interest rates have decreased again! Here are the rates as of Monday February 8th.

6 month 3.50%
1 year 2.49%
2 year 2.95%
3 year 3.40%
4 year 3.85%
5 year 3.64%
VRM closed 2.05% ( prime - 0.20% )
LOC 3.15% ( prime +0.90%)


Holly Breckenridge
Mortgage Agent
Dominion Lending Centres
(First Capital Inc.) License #10746
88 Wellington St
Stratford, Ontario
N5A 2L2
Ph 519-275-5029
Fx 519-273-4202
License # M09000659


Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

Monday, February 8, 2010

HST on Mortgage insurance premiums

Good day everyone!

I have just received a little bit of good news regarding the upcoming tax hike known as the HST.

Although the prices of HOUSING will not be subject to HST, unless the purchase price is above $400,000, and the home is new, many Real Estate Transaction related services will be subject to this new "value-added-tax" (whatever the hell that means). Examples of services that will be subject to a new 13% tax rate (formerly 5%... GST only) are Commissions, Home Inspection Fees, services such as plumbers, electricians, stagers, etc.

Here's some GOOD news. Many of my clients are buying their first home. Even after saving for years, it is difficult for people to come up with a 20% downpayment on a house. If you require a mortgage with less than 20% down, you will need to be approved, and pay for, MORTGAGE INSURANCE. Commonly sold to you by CMHC (Canadian Mortgage and Housing Corporation), or Genworth Financial, this insurance covers the bank against any losses stemming from your inability to pay for the house you've purchased. You MUST have mortgage insurance if you have less than 20% down.

Anyway, traditionally, this mortgage insurance is charged as a percentage of your purchase price, and is added to the mortgage principal and paid through the duration of the mortgage.

This mortgage insurance premium amount is currently subject to PST, and taxes would be paid on it at a rate of 8%. These taxes CANNOT be added to the mortgage, and MUST be paid to your lawyer as a part of your "adjustments." Typically a few hundred more dollars you need to come up with to get your deal to close.

The GOOD news is that this particular service is NOT going to be taxed at the new Harmonized rate of 13%. It will remain at 8%.

A small break, for now, courtesy of your wonderful government.

If you have more questions about this tax-grab, and it's impact on your upcoming home purchase or sale, don't hesitate to contact me, and we can figure out your tax-mess together!

Ben Sage, Sales Representative. My Personal Website Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

Thursday, February 4, 2010

Scotiabank Woodstock Pays bigtime to Toyota Employees!

Scotiabank Woodstock Preferred Banking Package
for Employees of Toyota Motor

Manufacturing Canada Inc.


Mortgage:

Get a new mortgage with Scotiabank and get

  • Legal Fees Paid – up to $450.00*
  • Appraisal Fee Paid – up to $250.00


plus...

No Application Fee

120 Day Rate Guarantee Free Life Insurance from Approval to Closing Date**




Financial Planning / Investing / Day to Day Banking:

  • Free Second Opinion with an accredited Financial Advisor
  • Preferred Pricing on Investments
  • Free Bank Account for One Year
  • Simple Switch® - A hassle free way to transfer your existing automatic payments from another financial institution
  • Free Standard Safety Deposit Box for One Year (subject to availability)
  • Choose from a wide range of Visa Products


Contact:
Heather deGraaf Mortgage Specialist
519.535.7890
heather.degraaf@scotiabank.com


™Trademarks of The Bank of Nova Scotia. ®Registered trademark of The Bank of Nova Scotia. *Legal fees paid upon opening a Scotiabank Account with Visa product. **Subject to approval. All mortgage and VISA Products are subject to certain credit criteria. Mortgages are subject to the home meeting Scotiabank residential property standards and maximum permitted loan amounts. Mortgage and Banking Products are subject to change and or withdrawal at any time without notice.









Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

Wednesday, February 3, 2010

Giving back to the community, I am bowling in the 2010 "Bowl for Kids Sake"

In response to a great demand in Woodstock and area for Big Brothers and Big Sisters, I am bowling in the 2010 Bowl for Kids Sake.

My team will be Bowling February 24th, between 8:00-9:30.

I have set a RATHER low goal of $200. I want to double that. Please click THIS link to visit my page and donate!!

P.S. Tell your friends.

Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON