Waterloo’s Housing Market

Waterloo is located in southern Ontario, just 90 minutes west of Toronto. With a population of around 135,000, Waterloo is the smallest of the three cities in the Regional Municipality of Waterloo (Kitchener, Cambridge, Waterloo) and is adjacent to Kitchener.

Since the 1980s, the Kitchener-Waterloo area has earned itself the reputation of being Canada’s Silicon Valley. Waterloo is home to BlackBerry and OpenText and relative tech newcomers like Descartes Systems Group, Aeryon Labs, and ON Semiconductor.

The quality of life in Waterloo is also enhanced by its post-secondary schools (University of Waterloo and Wilfred Laurier University), arts and culture (Seagram Museum), recreation opportunities, parks and trails, shopping, programs, and services.

Not surprisingly, the real estate market in Waterloo is strong. In the summer of 2017, the average price of a home was up around 17.4% year-over-year at $455,217.

Detached homes sold for an average price of $519,507 (up 17.4% year-over-year), a far cry from the $1.3 million you’ll pay in Toronto.
The average sale price for an apartment-style condominium was $277,866 (up 13.9%), townhomes sold for an average of $350,342 (up 22.8%) and semis sold for an average of $352,721 (up 14.3%).

The average sale price for an apartment-style condominium was $277,866 (up 13.9%), townhomes sold for an average of $350,342 (up 22.8%) and semis sold for an average of $352,721 (up 14.3%).

Finding the Best Mortgage Rates in Waterloo

If you live in the Waterloo area and are looking for a mortgage with the best rates and terms, don’t bother with the big banks; visit a mortgage broker like Canadalend.com.

Why? The big banks will only offer you their own financial products, regardless of whether they’re suited to your financial needs.

Unlike the big lenders, a mortgage broker like Canadalend.com is independent. That means they’re looking out for your best interests. With Canadalend.com, you aren’t stuck with just one lender; we have access to hundreds of different private mortgage lenders. This ensures you’ll find a mortgage that suits both your financial and lifestyle needs.

An independent, licensed mortgage professional at Canadalend.com will also make sure you’re aware of all your money-saving options. After all, there’s a lot more to getting the best mortgage than securing the lowest interest rate—though that’s certainly important.

This includes helping you select the best amortization period, choose between a fixed or variable mortgage and open versus closed, and decide if you want an accelerated repayment program.

Here’s What Canadalend.com Offers

Canadalend.com provides something the big banks and trust companies can’t: options and personal attention.

Over the last number of years, the federal government has implemented stricter lending rules. This has made it much more difficult for many typical first-time home buyers in Waterloo to get a mortgage and get on the property ladder.

Not too long ago, you could purchase a home in Waterloo with no money down and a mortgage with an amortization period of 40 years. Today, amortization periods have been cut to 25 years and the minimum down payment for new government-backed mortgages has been raised to five percent.

Tougher lending rules have made it difficult for everyday Canadians to secure a mortgage. If you’re self-employed, have declared bankruptcy, have bad credit or even no credit, have unreliable income, or are a non-resident, it can be a lot more difficult to secure a mortgage now than it was 10 years ago.

That’s what makes a broker like Canadalend.com with access to private lenders so different. We are not bound by the same lending rules as Canada’s big financial institutions. We have a lot more flexibility when it comes to helping you find the mortgage or other financial products you need.

Canadalend.com’s Financial Services

  • First mortgages for first-time home buyers
  • Second mortgages in Waterloo
  • Residential mortgages in Waterloo
  • Mortgage refinancing in Waterloo
  • Commercial mortgage for businesses in Waterloo
  • Home equity line of credit (HELOC)
  • Mortgages and tax arrears in Waterloo
  • Debt consolidation for bad credit in Waterloo
  • Home equity loans in Waterloo
  • Mortgages for those in Waterloo with bad credit

This Is Why You Should Choose Canadalend.com!

If you’re thinking of buying a home in Waterloo or already own one and want to open a home equity line of credit, refinance, get a second mortgage, consolidate debt, secure a commercial and industrial mortgage, or have been turned down by traditional lenders for any reason, call a licensed mortgage professional at Canadalend.com.

Because the agents at Canadalend.com are independent, they have access to hundreds of different lenders. There are lenders who specialize in helping those who are self-employed, have bruised credit, or have unreliable income find a residential mortgage or other financial product.

The mortgage brokers at Canadalend.com can also get you pre-approved for a mortgage or loan with low mortgage rates in 24 hours or less.

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.


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