Mortgage News
CTV News - Mortgage Minute June 25
Mortgage Broker Frank Napolitano stops by CTV to talk about first-time buyers, mortgage rates, and closing costs.
Published
Click here for the full video from CTV Ottawa.
Ottawa Mortgage Broker Frank Napolitano stops by CTV for another episode of the Mortgage Minute. This week, Frank and Kurt talk about the recent increase of fixed mortgage rates, and why now may be the best time to lock in your mortgage for a 10 year term.
Frank also takes some time this week to talk about the closing costs that some buyers tend to overlook when purchasing a home.
Some costs to keep in mind when creating your budget:
- Land transfer tax
- Legal fees
- Property tax adjustment (the previous owners will have pre-paid the property taxes for the year, therefore you are required to reimburse them for the months of the year you will be living in the home).