You'd have to speak to a mortgage company about a 5% down or less mortgage.
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| Author: | TThorpe [ Thu Mar 27, 2008 11:11 am ] |
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A good estimate of your property taxes in Milton would be around 1% of what your house is worth. Not what you paid for it, but what they estimate it is worth at the time. I'm not 100% sure but I don't think the closing dates are 2 years out anymore, you will have to look into that one. |
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| Author: | RizzoLee [ Thu Mar 27, 2008 11:55 am ] |
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You'd have to speak to a mortgage company about a 5% down or less mortgage.
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| Author: | kf095 [ Thu Mar 27, 2008 12:12 pm ] |
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Mattamy has plans to build almost everything on the area between Thomson, Bronte (hwy 25), Derry and Britannia. It will take some time for sure. Five, ten years, so if you miss this deal in November it is not a big deal. How fast house is going to be build it depends on the water, hydro and schools issues which is managed not by Mattamy. Normally it is one year from the purchase agreement. Two years seems to be too long. Town will give them approval if no schools are build, but if no water or something else from (to) pipes, cables is unavailable even if they will build it Town will never accept it for closing. As for the model of the house you are looking for – Mattamy is changing models and lots sizes from time to time. Only Mattamy guys will tell you if they know for how long this model is going to be available. 20K is the downpayment to Mattamy for 36lot. Mortgage is different; Mattamy is not a bank which gives mortgage pre approval with 5% more or less downpayment. My impression is Mattamy needs only 20K or another payment after purchase agreement. They don’t really care if you are not going to get the mortgage for the house. If by the closing day you will be without mortgage Mattamy will walk away with their house and yours downpayment. You will be walking away without mortgage, house and downpayment. |
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| Author: | TThorpe [ Fri Mar 28, 2008 4:06 pm ] |
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We bought in phase 1 and when we signed they wanted the post dated checks for the 20k, however once the bank provided Mattamy with paperwork that showed we were approved for 5% down, we were able to get the checks amended to be for that amount, less than the 20K. At the time it was only around 12k because we bought a town house. |
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