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My Rates

1 Year 2.59%
2 Years 2.19%
3 Years 2.49%
4 Years 2.59%
5 Years 2.59%
7 Years 3.14%
10 Years 3.69%
*Rates subject to change and OAC
AGENT LICENSE ID
M15001443
BROKERAGE LICENSE ID
10349
Catherine Morvai Mortgage Agent

Catherine Morvai

Mortgage Agent


Phone:
Address:
7676 Woodbine Avenue, Suite 300, Markham, Ontario

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Welcome!

 

I am a Mortgage Agent with Northwood Mortgage, serving clients in the GTA and Durham/Clarington Regions. You can apply online, call or email me.   I will meet with you where you are most comfortable.

 

We are here for people like you who are looking to fall in love with their first home, move up to their dream home, consolidate debts or refinance a mortgage using the equity in a home for everything from renovations to startup business costs.
 

Being affiliated with Northwood Mortgage allows you to relax knowing that you're in the right hands. So get in touch today to achieve your goals tomorrow.

 

I would like to help you to achieve your financial goals, and save you time and money, by finding you the right mortgage solution for your unique situation.  I commit to providing you with the best possible service.

 

Northwood Mortgage has access to over 40 bank and non-bank lenders, as well as private lenders.  We have access to lower rates than banks can offer. As well, prepayment penalty calculations can be less costly at non-bank lenders.

 

I can assist in arranging mortgages for all requirements and situations: 



1st and 2nd mortgages 
Purchases and Improvements 
Debt Consolidation 
Equity Take Out 
Refinancing 
Second properties and Vacation homes 
Self Employed 
Reverse Mortgages 
Low Credit or limited credit history 
New Immigrants 
Past Bankruptcies 
Up to 95% Loan to Value 

 

Don't delay.  Call me today at 416-587-2875.

Visit my mortgage blog at:

http://mortgage101factoids.blogspot.ca

 


BLOG / NEWS Updates

Ontario Land Transfer Taxes

The province of Ontario charges a land transfer tax when you purchase property. Rates are a percentage that varies based on property value. AVERAGE COST: Ontarios land transfer tax ranges from 0.5% to 2%, depending on property value. Here is an example for a $500,000 property purchase. Purchase Price of Property 500,000.00 Rates Tax Ontario Ontario Up to including $55,000 0.5% 275 Over $55,000 to $250,000 1.0% 1,950 Over $250,000 to $400,000 1.5% 2,250 Over $400,000 2.0% 2,000 Total tax 6,475 For Torontonians, the real estate taxman hits twice, with Canadas only municipal land transfer tax, which is paid in addition to the provincial tax. Here is the example again, but for a $500,000 property purchase in the city of Toronto. Purchase Price of Property 500,000.00 Rates Tax Rates Tax Total Tax Ontario Ontario Toronto Toronto if in Toronto Up to including $55,000 0.5% 275 0.5% 275 Over $55,000 to $250,000 1.0% 1,950 1.0% 1,950 Over $250,000 to $400,000 1.5% 2,250 1.0% 1,500 Over $400,000 2.0% 2,000 2.0% 2,000 Total tax 6,475 5,725 12,200 A land transfer tax calculator can be found at: http://www.landtransfertaxcalculator.ca/ The good news is that first time home buyers can apply for a rebate of up to $2,000 from the province of Ontario (and of up to an additional $3,725 if located in the City of Toronto). You are not allowed to have owned an interest in a home anywhere in the world previously. Refer to my blog from Oct 2015 First Time Home Buyer Programs for more information on rebates.

Buying a Property that is a Condominium

If you are considering purchasing a condo property, please be aware that you should check out the condition of the condominiums finances and reserve requirements before purchasing. If the condos reserve requirements are not considered to be sufficient, CMHC and Genworth might not insure the property. Also, if the reserve requirements are not adequate, you could be subject to hefty special assessments in the future, and could have difficulty re-selling the property. Dont assume simply because the building or development has been around for many years or because the condominium developer has a good reputation in the area, that there are no surprises lurking in the mountain of financial and corporate data that you have been given to review. Definitely, you should obtain a status certificate for the condominium corporation, that you should have your lawyer check out. As per the article in the following link, if you are buying an existing condo unit, the law permits you to impose a condition on your purchase to allow you to obtain a status certificate. https://www.nelligan.ca/e/condominiumspecialassessments.cfm (John D Peart of Nelligan/OBrien/Payne, Jan 24, 2014)

MY LENDERS

TD Bank Scotia Bank First National B2B Bank Home Trust
MCAP Merix Industrial Alliance Optimum Canadiana Financial
Equitable Bank ICICI Bank Fisgard Capital  RMG Mortgages Street Capital