Once you own a home, you begin to build equity through mortgage payments. Over time, that equity grows and can allow you to utilize it to secure low-interest funds in the form of a one-time loan (“second mortgage”) or a home equity line of credit (HELOC). HELOCs can be a great source of financial value […]
Let’s Talk Mortgage Amortizations Buying a home is an exciting time whether you are purchasing your first home, upsizing, or downsizing. However, choosing the mortgage that is right for you can also feel daunting. Once you have determined how much you are willing and able to spend on a home, and found the perfect home, […]
Many Canadians dream of owning their own home, but putting together enough money for the downpayment isn’t always easy. To help more Canadians purchase homes, the Government of Canada offers a program called the Home Buyer’s Plan. The money you withdraw under the plan is tax-free, but funds used to repay the money you borrowed […]
Many Canadians dream of owning their own home, but with an increasingly competitive housing market and the rising cost of living, many find that dream might be beyond their reach. To help middle-class Canadians purchase either their first home or a home for a relative with a disability, the Government of Canada has the Home […]
‘Tis the season for sharing, family, giving, and unfortunately, overspending! If one of your 2019 goals is to buy a property, keeping debt loads in check in more important than ever. The impact of non-mortgage related consumer debt on mortgage qualifying is definitely not something anyone can afford to ignore. Qualifying for a Mortgage Isn’t […]
Mortgage brokers are an invaluable resource to borrowers. Mortgage brokers possess a wealth of information, in-depth product knowledge, and have access to the most competitive mortgage rates and products. This puts mortgage brokers in a position that lets them help their clients achieve their financial and homeownership goals. Some of the advantages of choosing a […]
We get asked a lot of questions, and we are happy to help you find the answers. To help you find the answers you need we will address our four most frequently asked questions in this post. Are Mortgage Brokers Free? For most residential transactions, the cost of getting a mortgage through a mortgage broker […]
Getting Approved for Your Mortgage: How to Keep It Fast and Simple Whether you’re a first time home buyer or a seasoned veteran, the application and approval process can be intimidating if you aren’t prepared. A little bit of preparation can go a long way by reducing stress and moving the mortgage approval process along […]
There are two most common types of mortgages: Fixed-rate mortgages and variable or adjustable rate mortgages. They both have their strengths. Before you begin house hunting you should sit down with your mortgage broker and determine which type of mortgage is best suited to your unique financial needs and goals. Fixed Rate Mortgage A fixed […]
Whenever you make a real estate purchase a down payment is required. If you are planning on purchasing your first home you may be wondering how much money you should set aside for your down payment, and where that money can come from. There is no “rule” that specifies how much the perfect down payment […]