Mody.com Management Inc.

Good REALTORS® save you time and money. They know your community, they know what is important when buying and selling a home, and they know all the intricacies of the process, from finding a home, to negotiating a price, to closing a deal.
Services we provide:

Screen the available homes in your desired neighborhood to make sure that the houses you look at fit your budget and your requirements
Give you important information on local real estate values, taxes, utility costs, services, and amenities
Guide you through the viewing process showing you features you may not have noticed and problems you may not have spotted
Advise you about your legal and financial options
Recommend expert help when needed, such as home appraisal, home inspection, and contracting services
Manage your offers and counter-offers, and use our skills and experience as a negotiator to make sure you get the best deal possible

Find your home

Affording a home (tab)
Over-extending yourself financially will destroy the excitement of owning your own home.
Our professionals can help you find the home of your dreams and also assist you in evaluating mortgage options and obtaining financing at the most prevailing rate. In the meantime, here are some ways to help you determine how much you can afford.
Setting a maximum price range is of critical importance. To determine your price range, you should calculate two amounts.

a) The amount of cash you can afford to put towards the purchase (the down payment)
b) The maximum amount of loan mortgage you can comfortably carry.
The larger the down payment, the less you have to borrow, the smaller your monthly mortgage payment, and the lower your cost of interest of the term of the mortgage. So it makes sense to put down as much of your own money as possible. The Home Budget Calculator can help you. (link to home budget calculator)
You should keep a cash reserve for unexpected expenses and adjustments payable on closing such as land transfer tax, legal and mortgage fees and of course moving expenses, and any new furnishings and appliances that may be necessary.
The first step towards establishing a maximum mortgage limit is to calculate a monthly payment you can afford. Financial institutions do this by calculating your debt-service ratio.
To calculate your debt-service ratio, list all your loans (car, personal loans, monthly credit card balances). The sum of these loan payments and your mortgage payment (including principal, interest and taxes) should not exceed approximately 40 per cent of your gross income. The mortgage payment and taxes should not exceed approximately 30 percent of your gross income.
The size of the mortgage you can arrange, based on payments you can afford, depends on interest rates. The lower the rates, the larger the possible mortgage and the more affordable housing is.
But there are other mortgage terms to consider, as well. How open is the mortgage?
Would prepayment be allowed?
Is the mortgage portable?
The usual source of mortgage funds is a lending institution such as a bank or trust company - and it is the particular policy of the lending institution that determines the maximum loan allowed. But there are other sources of funding too, and we can help you choose the best lender at the best rates and terms.