Bowmanville’s Housing Market
Toronto’s red-hot housing market has spread to the suburbs; especially to the Durham Region and, in particular Bowmanville. Double digit price increases were seen in the GTA in 2016 and that strong growth is expected to continue into 2017 and 2018.
Home prices in Bowmanville are on the rise because of low interest rates, strong demand and relative affordability compared to Toronto. You can either buy a small condominium in Toronto for $1.0 million or purchase a detached home in Bowmanville, which is only 75 km east of Toronto, for just over $540,000. Thanks to a strong local economy and the Highway 407 extension, Bowmanville’s housing market will remain strong.
Should the government announce further investments in Durham region, interest in the local housing market is only going to get stronger.
Finding the Best Mortgage Rates in Bowmanville
Canada’s big banks are only looking out for their own interests. That’s why they will only promote their own financial products; whether they’re best suited to your needs or not. Because the mortgage experts at Canadalend.com are independent, they have access to hundreds of different lenders. That means they’ll be able to find you a mortgage that ticks all of the boxes. The big banks can’t make that promise.
That said, when looking for a mortgage you need to consider more than just the interest rate. Granted, a low interest rate is important. After all, even small increases in interest rates will mean paying out tens of thousands of dollars in additional interest payments. That money would be put to better use in your own pocket.
To find the best mortgage for your property in Bowmanville, you also need to pay close attention to the terms and conditions of a mortgage. That includes penalties and hidden costs. To find a mortgage that best suits your financial and long-term lifestyle needs, you need to think about amortization periods, fixed versus variable mortgages, open versus closed mortgages, and accelerated repayment programs.
Here’s What Canadalend.com Offers
If you live in Bowmanville or are thinking of moving to Bowmanville or Durham County, and are looking for a mortgage with the best rates and terms, skip Canada’s big banks and use an independent, licensed private lender at Canadalend.com.
To avoid the same kind of housing bubble that crippled the U.S. economy back in 2008, the Canadian government brought in a number of stricter lending rules. Unfortunately, some of those rules have unfairly punished first-time home buyers and made it much more difficult to qualify for a mortgage.
Tougher lending rules have made it difficult for borrowers who are self-employed, do not have reliable income, divorced, have declared bankruptcy, bad credit, debt, lost a job, owe back taxes, or are non-residents to secure a mortgage.
That’s what makes Canadalend.com so special. Because the big banks and trust companies need to follow strict lending rules it’s tough for many Canadians looking to get on the property ladder to qualify for a mortgage. An independent mortgage broker like Canadalend.com on the other hand is not bound to the same rules. In fact, Canadalend.com has much more freedom and flexibility when it comes to finding potential home buyers the right loan or other financial product.
Our Mortgage Services
- Mortgage for First-Time Home Buyers
- Second Mortgages
- Residential Mortgages
- Mortgage Refinancing
- Commercial Mortgage for Businesses
- Home Equity Line of Credit (HELOC)
- Mortgages & Tax Arrears
- Debt Consolidation for Bad Credit
- Home Equity Loans
- Mortgages for Those with Bad Credit
Why Should You Choose Canadalend.com?
If you’re a first-time home buyer interested in buying a home in Bowmanville, looking to refinance, consolidate debt, take out a second mortgage, are self-employed, or been turned down by the big lenders, talk to a licensed agent at Canadalend.com.
To see what kind of mortgage or loan you qualify for, contact Canadalend.com today or apply online and a Canadalend.com mortgage specialist will set up an appointment for a free personal consultation at your earliest convenience.