Monday, January 07, 2008

City of Toronto's increase to the Land Transfer Tax


City of Toronto's increase to the Land Transfer Tax:


Solutions for Mortgages will take you to a lender who will now cover the cost of the tax for customers obtaining a new fixed rate closed mortgage with a term of 5 or 7 years, subject to the following:


1. Maximum payout amount is $15,000 or 1.5% of the mortgage amount, whichever is less


2. Applications must be submitted between November 22 2007 and March 11 2008, and must fund by March 21, 2008


3. Offer is applicable only to Toronto properties which were affected by the new City of Toronto Land Transfer Tax


4. Purchase transactions only


Eligible rates and terms as follows:


1. 5 year Fixed Rate Mortgage with a rate discount of 1.01% off the posted rate


2. 7 year Fixed Rate Mortgage with a rate discount of 1.22% off the posted rate


3. Not available in conjunction with any other offers


4. Funds are paid directly to the customer


5. Clients must be approved by this lender and close only with Solutions for Mortgages Inc.


6. Real Estate agents get $200.00 referral fee.



Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale


Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,


Mark


A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
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