Coming early 2019, The Wyatt Condos is the newest addition to the award winning master-planned Regent Park revitalization in the heart of Toronto’s Downtown East side.
Located at Dundas Street and Sumach Street, The Wyatt is perfectly situated within moments of every urban convenience including the Aquatic Centre, new athletic grounds, groceries, parks, the TTC and so much more!
The Wyatt Condos is also just minutes to Ryerson University, Yonge and Dundas Square, The Eaton Centre, TTC Streetcars, the DVP and more. With suites ranging from studio to family friendly 3 bedroom layouts, impeccable finishes and incredible amenities, The Wyatt has something for everyone!
Choose what TTC routes work best for you! Among the TTC buses and streetcars options in the area are the following:
• The 505 Dundas Street Car
• The 501 Queen Street Car
• The 504 King Street Car
• The 502 Downtowner
• The 83
• The 506 Carleton
Many of the bus routes conveniently run every 10 minutes or less!
The Wyatt Condos will be situated within reasonable proximity to major schools in the area, from universities to middle and elementary schools. Some include:
• Ryerson University
• Nelson Mandela Park Public School
• Lord Dufferin Junior and Senior Public School
• Sprucecourt Public School
ONLY 5% DOWN
Not only will this incredible community offer a rare home ownership opportunity in downtown Toronto, but Daniels is making it easy by only asking for 5% of the purchase price, payable with their 5% Gradual Deposit Payment Plan.
Here’s how it works, you only need to provide $3,500 on signing of the Agreement of Purchase and Sale, and $1,000 per month until your move-in date, or until 5% of the purchase price has been paid.
Are You a First Time Home Buyer? – You’ll LOVE This!
If you qualify for a 95% first mortgage your 5% deposit is all you’ll need. Of course, if you have the cash, you may choose a higher down-payment in order to lower your monthly mortgage payments.
If you do not own a home and are currently renting you may qualify for Daniels’ First Home BOOST – The most powerful home ownership program ever created.
This innovative Down Payment Program provides an INTEREST-FREE and PAYMENT-FREE loan for an additional 10% of the purchase price, turning your 5% deposit into a 15% down-payment!
This program will allow you to carry a mortgage for only 85%of the purchase price, which means lower monthly carrying costs – and the most attractive opportunity to get into home ownership in the city.
- The BOOST program provides qualified purchasers with a 10%
- down payment assistance in the form of a second mortgage
- The funds are recognized by CMHC
- This is an interest FREE and payment FREE second mortgage
- You and/or your spouse cannot own a home in Canada, and you must currently be renting
- Your home at The Wyatt must be your sole and principal residence
- Your annual household income does not exceed $87, 800
- You must be a permanent resident of Canada
- You must be 18 years of age or older
Repayment occurs when you sell your home or when it is no longer your principal residence. At that time you will repay the original 10% second mortgage plus 10% of the capital appreciation.
As an example – on a purchase price of $250,000 where a 10% second mortgage was obtained and the resale price was $300,000, the repayment would be the original 10% ($25,000) plus 10% of the $50,000 increase value, which would equal $5,000 for a total repayment of $30,000.
If you sell your home within the 20 year period but experience a capital loss, repayment of the loan is waived provided it is sold at fair value and the sale is an arm’s length transaction.
If you own and occupy the home for 20 years the second mortgage is forgiven.
If you would like to repay the loan within 20 years without selling the home, the 10% second mortgage plus 10% of the capital appreciation must be paid.
MORE INFORMATION AVAILABLE NEXT WEEK!