Muhammad Paracha

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Team Paracha Our mission is to serve our clients with the highest care. We make buying, selling and leasing of homes easy and stress free. Together we will make it happen

CMHC loosens mortgage insurance rules:
1. Borrowers need a minimum credit score of 600 instead of 680 to qualify
2. Borrower’s gross debt service ratio can be as high as 39% instead of 35%
3. Borrower’s total debt service ratio can reach 44% instead of 42%.

CMHC changes underwriting practices on mortgage loan insurance Canada Mortgage and Housing Corp. is easing its underwriting criteria for mortgage loan insurance after changes it made last year were not effective and caused it to lose market share.

Thinking of buying or selling in 2021, get in touch with me today and together we will make it happen!

Source: TREB Market Reports

Recent TREB stats indicate that sales in February 2018 were 34.9% down compared to February 2017 and prices were 12.4% down.

Toronto-area home prices saw year-over-year drop in February, as number of sales plunged | Toronto Star Despite a 12.4 per cent decline in the average price of a resale home in February from the previous year, the average was still above 2016 levels, the Toronto Real Estate Board said.

Average price of a home has dropped 6% in May 2017. With 20.3% drop in sales and more than 42.9% active properties available for sales in GTA compared to a year ago, it is now a buyer's market.

Now is the time to buy! If you are looking to buy or invest, call me and let's work together to buy your dream home.

*** Incentives available for both buyers and sellers ***

Toronto home sales drop most since recession as new rules put brakes on market The Toronto housing market is finally starting to show some strain as active listings soared in May and prices dropped sharply from April

Information on changes to Land Transfer Tax Rebate for first time homebuyers

Tax break for eligible purchasers is being doubled from $2,000. This means first-time home buyers won't pay any land transfer tax on the first $368,000 effective January 1, 2017. To fund the break, the land transfer tax rates on houses that cost more than $2 million will rise from 2% to 2.5% for every dollar above the price.

1st-time homebuyers in Ontario to get bigger tax break The Ontario government is moving to double the maximum tax rebate offered to first-time homebuyers, while boosting the land-transfer tax on house purchases above $2 million.