http://www.heritage.nf.ca/projects/introduction.html
Whether you're moving across the city, the country or to Canada we will help you find the right home, at the right price, with the least amount of stress and wasted time or energy. Whether you a first time homebuyer, move-up home owner, or looking to relocate, Newfoundland, our team is ready to help you.
Our goal is to help you get the highest price, in the shortest period of time with the fewest problems possible. Whether you budget is $75,000 or $5,000,000 we have an experienced agent to serve your individual needs. Single family homes, condominiums or investment properties from small to large are handled with the same expertise. If you need other real estate services-lawyers, movers, renovators or other home-related services- we have a list of proven experts for you to choose from to help you with your unique needs.
The province of Newfoundland and Labrador offers an environment rich in history, natural resources, business and opportunities. On this site you'll find valuable Internet resources for the curious, the restless and the ambitious. If you're looking to find something in Newfoundland and Labrador, check out the province's most comprehensive search engine. So... enjoy the time you spend here and let the journey begin!
As the Newfoundland and Labrador Heritage project has progressed, the project team has sought assistance (financial and/or content) from partners around the province and the rest of Canada. While the main knowledge base of the site continues to grow and become more detailed, these individual projects focus on specific areas of Newfoundland and Labrador's heritage. All the projects are included in the main commentary of the site. This section serves as a showcase and provides quick access to these projects as well as information on partner organizations and sponsors. To find out more information about the partner organizations, please follow visit.
Each of the special projects are considered to be complete sites. As such many of the larger ones have search pages and site maps, along with a main page which is considered the "home" page of each site. On any given page there is always a link to the main knowledge base section the Newfoundland and Labrador Heritage Web Site.
While Canada Mortgage and Housing Corporation's (CMHC) five per cent down option program doesn't help you come up wit the cash for a down payment, it certainly eases the way. This program insures the mortgage on your home against default in payments for up to 95 per cent of the lending value.
This option especially benefits people who can afford the monthly payments involved in owning a home, but would have trouble saving a large amount of cash as a down payment. Previously available only to first-time buyers, the program expanded last year to include anyone who buys a home in Canada and occupies it as a principle residence. CMHC's five percent mortgage program charges an insurance premium of 3.75 per cent of the mortgage loan. This amount can be added to the mortgage or paid on a monthly basis. As a first time buyer, a real estate professional can help you understand how this program works and ensure you get the maximum benefit possible.
This is only a good idea if you have a fixed, long-term mortgage and rates have fallen more than two per cent. But the cost of refinancing a loan to get a better rate can be very high. To have your closed mortgage discharged, you will usually have to pay either a three-month interest penalty or an "interest differential", which can cost considerably more.
You can reduce the penalty, which is based on the outstanding principal, by exercising a prepayment privilege and reducing the principal first. This can be done using your own money or by arranging with another lender to borrow enough to discharge your mortgage and pay the discharge penalty. Whatever you decide to do, seek expert advice before refinancing, or you may end up paying more than if you had stayed the course.
